ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) and Pakistan State Oil (PSO) faced strong criticism from the government over slow progress in digitising and integrating petroleum stock and supply data, raising concerns about transparency and market oversight.
The issue was highlighted during a meeting of a cabinet committee formed by Prime Minister Shehbaz Sharif to monitor petroleum prices amid evolving global and regional challenges. The session, chaired by Finance Minister Muhammad Aurangzeb, pointed to gaps in data reporting and pricing mechanisms—particularly in diesel rate calculations.
Participants, including Climate Change Minister Dr Musadik Malik, expressed concern that inadequate oversight may have enabled market players to benefit from windfall gains during recent price spikes. Both Ogra and PSO were criticised for failing to fully integrate retail outlets and depots into a real-time monitoring system, despite prior directives.
Officials noted that PSO’s integration stands at around 60%, while private sector compliance remains significantly lower across a network of more than 12,000 petrol pumps nationwide.
To address the issue, the government has decided to deploy joint inspection teams comprising the Petroleum Division, Ogra, the Federal Investigation Agency, and PSO to selected fuel stations in Islamabad. These teams will monitor stock levels, ensure timely data entry, and curb hoarding and market manipulation.
The committee stressed the importance of Ogra’s digital dashboard, designed to provide real-time visibility of stock positions, sales trends, and supply flows. However, it acknowledged that inconsistent data reporting has limited its effectiveness so far.
Authorities directed Ogra to accelerate digitisation across the supply chain, enforce compliance among oil marketing companies, and strengthen coordination with stakeholders. PSO was also instructed to enhance reporting coverage across its retail network on a priority basis.
Despite monitoring concerns, officials assured that the overall petroleum supply remains stable. Diesel stocks currently provide around 25 days of cover, petrol supplies are sufficient to meet demand, and crude oil reserves stand at approximately 12 days, supported by incoming shipments and scheduled imports.
The committee underscored the critical role of reliable energy supply in sustaining key sectors such as agriculture, transport, fertiliser production, and industry. It also emphasised strict vigilance to prevent hoarding, speculative practices, and supply disruptions, while calling for data-driven management of demand and distribution across the country.
Story by Khaleeq Kiani
