KARACHI: The government has constituted a high-level committee to examine and scrutinise a price differential claim (PDC) submitted by Gas and Oil Pakistan Ltd (GO), amounting to Rs14 billion for the period from March 21 to April 2, 2026, according to a notification issued by the Cabinet Division.
The notification, available with The News, stated that the Oil and Gas Regulatory Authority (Ogra) has received the claim under the Inland Freight Equalisation Margin (IFEM) mechanism and was directed to reimburse any differential on Pakistan State Oil (PSO) imports arising from changes in the pricing mechanism.
However, the government expressed concern over GO’s operations, which are currently under investigation by the Federal Investigation Agency (FIA).
The notification noted that although proceedings are presently subject to stay orders issued by the Sindh High Court, the allegations, if proven, “could lead to a false claim to the authority by the said company” .
“In view of the detailed interim progress report furnished by the FIA, the alleged conduct of GO in their PDCs and the volume of claims made warrants thorough scrutiny,” the notification stated.
The committee has been tasked with examining the claims in the public interest and making recommendations to Ogra for further action.
In its statement to The News, GO Pakistan said: “We would like to clarify that [GO] did not withhold product or engage in stockpiling to benefit from anticipated price revisions. During the referenced period, GO continued to operate in line with its supply obligations and lifted product from refineries as per allocation and operational requirements. There was no deliberate curtailment of sales at any stage.”
The company added that “publicly available industry data reflects that GO’s market share increased during the same period (mid-March to early April), which is inconsistent with the claim of holding back product. An increase in market share indicates active participation in the market and sustained product availability across our network.”
All inventory positions and storage levels are routinely reported to relevant authorities in accordance with regulatory requirements, and full transparency has been maintained in this regard, it said. “GO remains fully compliant with all guidelines and continues to engage with stakeholders in a transparent manner.”
According to the government notification, the committee will be convened by Sajjad Azhar, joint secretary (corporate finance), Finance Division. Other members include Director General (Oil), Petroleum Division Imran Ahmad; Deputy Director, Directorate of Investigation (Inland Revenue), Federal Board of Revenue (FBR) Amin Yasin; Director Audit (P&NR), Auditor General of Pakistan Imran Ali Noor; and Senior Executive Director Finance, Ogra Misbah Yaqoob, who will serve as member/secretary.
The committee has also been authorised to co-opt experts and seek records or information from relevant organisations where necessary.
Officials said the move reflects the government’s effort to ensure transparency and safeguard public funds amid growing scrutiny of petroleum sector claims and subsidy mechanisms.
