Business

CCP takes notice of petroleum products’ shortage

The Competition Commission of Pakistan has taken 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.

ALSO READ: Petroleum division steps in relief activities amid covid-19 pandemic

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.

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