Thursday, 09 July 2020, 12:08:32 pm
CCP takes notice of shortage of petroleum products in country
June 04, 2020

The Competition Commission of Pakistan (CCP) has taken notice of the public concerns and complaints regarding shortage of petroleum products in the country and initiated an enquiry to see whether such a shortage is the result of any anti-competitive activity.

In a news release, the Commission said sudden shortage of fuel across the country at a time when the Government has reduced prices followed by low demand due to COVID-19 pandemic, arises suspicion that artificial shortage might have been created either by limiting supply at the Oil Marketing Companies, and/or hoarding at the distribution level. 

The CCP's enquiry will examine why the impact of reduction in the prices of oil has not resulted in the corresponding reduction in the prices of the lubricants and other oil-based products.