Ogra in disarray amid pricing probe, legal challenges
• Member (oil) steps down after FIA quizzing on price differential claims • Legal cover for appointment of civil servant to head regulator ‘on the cards’ ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) is in disarray after one of its three members stepped down amid pricing investigations, amid a government move to depute civil servants to run the otherwise autonomous regulator. In order to give legal cover to the appointment of civil servants in Ogra, the government ha
The Oil and Gas Regulatory Authority (Ogra) is facing internal turmoil following the resignation of its member for oil, Zainul Abideen Qureshi. His departure comes after an interrogation by the Federal Investigation Agency (FIA) concerning alleged misreporting of oil stocks and sales, which led to approximately Rs14 billion in questionable price differential claims. The FIA's investigation into these claims, reportedly linked to subsidized oil pricing after the US-Iran war, has cast a shadow over Ogra's operations.
Simultaneously, the government is reportedly moving to amend Ogra's governing law via a presidential ordinance to provide legal backing for appointing civil servants to lead the regulatory body. This follows the recent appointment of a civil servant as Ogra chairman, a position vacant for 18 months, which has already faced legal challenges.
The situation at Ogra raises concerns about the independence and integrity of the energy sector regulator, potentially impacting fuel pricing mechanisms and consumer interests.
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