The Ministry of Energy (Petroleum Division) is in a process of revising the criteria for establishment of Oil Marketing Companies (OMCs) for which a draft summary has been forwarded to the concerned organisations.

The Petroleum Division has imposed a moratorium on applications for establishment of new OMCs by local investors with effect from January 9, 2019, till the new criterion is approved by the ECC of the Cabinet and OGRA is advised not to accept any new applications from local investors except foreign investors for issuance of licence in the intervening period.

Copyright Business Recorder, 2019