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CCP initiates inquiry against petroleum products’ shortage

KARACHI: The Competition Commission of Pakistan (CCP) has initiated an inquiry against the shortage of petroleum products in the country. 
The CCP earlier took the notice against the complaints regarding the shortage of supplies or an unreasonable increase in prices of products.
The reason behind the sudden shortage of fuel is unknown as at a time when the government has itself reduced prices followed by low demand due to the COVID-19 pandemic, arises a doubt that artificial shortage might have been created by hoarding.
According to the inquiry, the CCP will determine the possibility of any anti-competitive practices causing the shortage of fuel in the country.
It will also examine why the impact of the reduction in the prices of oil have not resulted in the corresponding reduction in the prices of petroleum products.
The official Twitter account of CCP also posted the news on social media and wrote, “CCP has taken notice of the public concerns and complaints regarding the shortage of petroleum products in country and initiated an inquiry to see whether such a shortage is the result of any anti-competitive activity #Petrol #Pakistan #CCP.”

 
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