Prime Minister Shehbaz Sharif has ordered a strict inquiry by the Federal Investigation Agency (FIA) into possible fuel hoarding by oil marketing companies in Pakistan. The move comes amid growing fears of fuel shortages and long queues at petrol pumps after recent panic buying across the country.
The government launched this investigation following the regional conflict involving Iran. Many people rushed to fill their vehicles, worried that supplies might get disrupted. This created extra pressure on the fuel market.
According to reports, the FIA will look into certain oil marketing companies (OMCs) and some officials from the Oil and Gas Regulatory Authority (OGRA). They are checking claims that some companies deliberately held back stocks to create artificial shortages and push prices higher.
Early findings suggest that at least one company may have stockpiled fuel on purpose. FIA teams in Karachi have already recorded statements from a senior official of the Directorate General of Oil. This official supported concerns that some dishonest elements could be playing with the market.
The issue gained attention after the government raised petrol and high-speed diesel prices on March 7 to keep supplies steady during the crisis. On April 16, OGRA sent a letter to the government pointing out possible hoarding. The regulator asked for approval of a Rs 128 billion plan to settle price difference payments for oil companies. It clearly warned that any company found guilty of hoarding would not get these payments.
This inquiry shows the government’s firm stand to protect ordinary citizens from unfair practices. People rely on steady and affordable fuel for daily travel, transport, and business. The FIA is expected to submit its report soon.
