Oil and Gas Regulatory Authority (OGRA) convened a meeting with the Oil Marketing Companies (OMCs) on their request to discuss the mechanism of exchange rate adjustment.
Meeting was attended by the industry including the OCAC, OMAP, representatives of the Ministry of Energy (Petroleum Division) and OGRA.
Oil and Gas Regulatory Authority’s finance department explained the Mechanism of Exchange Rate Adjustment in depth, so that the stakeholders may understand the process. It is pertinent to mention that OGRA implement the polices of the Federal Government۔
Further OGRA Authority heard the issues of the OMC’s and wherein detail deliberations were done in this regard to improve the understanding of the participants.
It has been noted with great concern that counter productive media campaign is being run against Oil and Gas Regulatory Authority, which is absolutely rebutted. OGRA is cognizant of its mandate and is fully committed to work in public interest.