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Twelve oil importers responsible for artificial oil storage: FIA

The Federal Investigation Agency was lauded for its efforts in promoting national interest and for unmasking the oil importers responsible for artificial oil storage.

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On Thursday, a Senate Standing Committee on Interior presided over by Rehman Malik, was informed by the Federal Investigation Agency (FIA), that there are twelve oil importers responsible for making artificial oil storage and are involved with some officials for making illegal money.

The Committee was made aware of all the relevant details by FIA’s Additional Director General, and Secretary Petroleum, regarding artificial oil storage and the relevant departments’ failure to prevent this from happening. They have also been informed about the Oil Marketing Companies (OMCs) hoarding, which was responsible for a great deal of disruption in Pakistan last year. FIA officials have narrowed down the top twelve oil importers responsible for artificial oil storage.

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Shortage of petrol is prevalent in the country and has been for years. On top of that, such artificial oil storages and hoarding of petroleum products exacerbate the situation since it has caused billions of rupees worth of loss to the national exchequer. FIA informed the Committee of the above-mentioned issues. It was also made aware of the decreased demand in petroleum products amid the ongoing Covid-19 global pandemic. The government should look into the issue of artificial oil storage, the Committee expressed.

An all-encompassing report was presented to all the attendees of the meeting. Rehman Malik lauded the Federal Investigation Agency for its efforts in promoting national interest and for unmasking the oil importers responsible for artificial oil storage.

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Under Prime Minister Imran Khan’s orders, 609 petrol pumps have been sealed and about 4.5 million litres of petrol & diesel have been seized on Friday, in a bid to expose oil smugglers in Pakistan.

Under the directions of Prime Minister @ImranKhanPTI, 609 petrol pumps have been sealed and about 4.5 million litres of petrol & diesel have been seized in the campaign against oil smugglers in the country,” a tweet issued by the Prime Minister’s Office’s official Twitter handle announced.

“The campaign against oil smuggling, led by Ministry of Interior, is continuing unabated and showing significantly good results,” it added.

The sealed petrol pumps are ordered to submit valid documentation within a week. Failure to do so on time would result in those pumps being confiscated by the State as per the Customs Act.

“If the sealed pumps do not show valid documentation within seven days of sealing, these will be confiscated by the State under the Customs Act, along with all properties of the owners, as it would be deemed that these properties were acquired with smuggling proceeds,” informed the Prime Minister’s Office.

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