Pumps Selling Old Petrol But Govt Still Pays for Fuel Not Even Imported Yet

The Federal Investigation Agency (FIA) has alleged that oil marketing companies (OMCs) received government payments in advance for new stock that has not even been imported yet.

An interim inquiry conducted by FIA’s Anti-Corruption Circle Karachi found that the current Price Differential Claim (PDC) mechanism calculated compensation using sales volumes instead of verifying whether companies had actually imported fuel or purchased petroleum after prices increased.

This method enabled companies to claim compensation on cheaper fuel already stored in tanks or imported before revised prices took effect, meaning the firms may not have faced the financial losses the payments were meant to cover.

Alleged weaknesses in verification procedures at the Oil and Gas Regulatory Authority was observed. FIA determined that claims were made without properly assessing stock positions. The FIA said the findings suggested possible coordination between regulatory officials and policymakers within the Petroleum Division.

The inquiry recommended that compensation calculations should instead be tied to refinery purchases, since refinery prices reflect actual market exposure linked to international benchmarks.

Several other companies also appeared to have claimed compensation amounts exceeding their actual expenditures.

The findings were compiled after eight days of inquiry, including interviews, interrogations and analysis of financial records. Proceedings have been halted so far after the Sindh High Court suspended the inquiry following a legal challenge filed by one oil marketing company.

Bhai kisi cheez ko to chor do. Corrupt mafia, the rulers are at it again