KARACHI: Oil and Gas Regulatory Authority has issued around 98 different permits to streamline matters related to LPG sector, including its smooth supply in every nook and corner of the country throughout the year.
The regulator granted nine licences for establishing new oil marketing companies, which would bring investment of around 4.5 billion rupees for construction of oil storage infrastructure over the next three years.
Besides, permission was granted to six companies to initiate marketing of petroleum products after fulfilling their obligation of constructing oil storage infrastructure.
The authority said new entrants into the marketing arena will increase competition, which will ultimately benefit the consumers.
Similarly, it granted permissions to the OMCs and other companies for operating their newly constructed oil storages and terminals at different locations including Sahiwal, Habibabad, Mehmoodkot, Machike, Daulatpur, Port Qasim, Shikarpur, Kotlajam and Pattoki.
It said the addition of new oil storages will strengthen the oil supply infrastructure and backup storage system.