Seven OMCs challenge suspension of licences

 

Ogra is expected to hold a meeting on the arrival of its acting chairman, Sabar Hussain, from abroad. - File photo

ISLAMABAD: The seven Oil-Marketing Companies (OMCs)  whose licences have recently been suspended by the Oil and Gas Regulatory Authority (Ogra), have filed appeals with the regulator, describing the action inappropriate and unwarranted. 

Ogra is scheduled to hold hearing of appeals next week.

Hascol has obtained a stay from Sindh High court and resumed marketing operations, almost all companies have challenged Ogra move.

Byco suffers loss of Rs342m in third quarter

Byco, formerly Bosicor Refinery, reported on Monday a net loss of Rs342 million during the third quarter of the current fiscal year, lower than Rs1.218 billion incurred during the corresponding period last year, a statement said.