CCP Takes Notice Of Petroleum Products’ Shortage

(@fidahassanain)

CCP takes notice of petroleum products’ shortage

Commission says that it has initiated an inquiry to address the public concerns and complaints about shortage of petroleum products in the country.

ISLAMABAD: (UrduPoint/Pakistan Point News-June 5th, 2020) The Competition Commission of Pakistan took notice 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.

In a news release, the Commission said it has initiated an inquiry to address the public concerns and complaints regarding shortage of petroleum products in the country and to see if the shortage is result of any anti competitive activity.

The Commission became suspicious 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.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.