ISLAMABAD:Oil and Gas Regulatory Authority (OGRA) has banned establishment of new oil marketing companies in the country until a new criteria for setting up oil marketing companies is approved by Economic Coordination Committee of the Cabinet.
In a statement, the authority informed the general public, consumers and all stakeholders that Petroleum Division of the Energy Ministry is in process of revising the criteria for new oil marketing companies, for which a draft summary had been forwarded to the quarters concerned.
The authority has been advised not to accept any new applications from local investors except foreign investors for issuance of license.
Newsdesk