A policy should be made to compensate for the losses caused by foreign currency differences, Tariq Wazir Ali. Photo: File
Lahore: Oil sector stakeholders have expressed serious concerns to OGRA over foreign exchange losses and demanded that OGRA withdraw funds given to undeserving companies.
Stakeholders in the oil sector have expressed serious concerns over OGRA’s foreign exchange loss gap policy and demanded that OGRA immediately withdraw the amount disbursed to undeserving companies.
Oil sector stakeholders expressed these concerns at a meeting on March 21, which was attended by representatives of the Oil Marketing Association, including top Ogra officials.
Chairman Oil Marketing Association Tariq Wazir Ali drew the attention of Chairman Ogra to the questions raised by all the stakeholders.
In the letter, Tariq Wazir Ali held Chairman OGRA responsible for the injustices being done to the newly emerging oil marketing companies, saying that the situation worsened due to the inattention of Chairman OGRA. Due to which Ogra ignored the legitimate demands of these companies which were already suffering from difficulties.
Tariq Wazir Ali said that the entire industry is going through difficult situations except PSO. He said that the association has repeatedly demanded OGRA and the Ministry of Petroleum to make a proper policy to recover the losses caused by the foreign exchange difference, which will also save the country’s exchequer and maintain merit.
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