Solvent use in petrol caused Rs31bn loss to national exchequer

ISLAMABAD: A 9-member fact-finding committee has submitted its report to Prime Minister Shehbaz Sharif, exposing a massive scandal involving the illicit import and sale of solvent oil, resulting in a loss of Rs 31 billion to the national exchequer.

According to the report, 427,000 tons of hydrocarbon solvent were imported illegally through the Taftan border. The committee found that the importers did not possess the required licenses for importing hydrocarbon solvent, and the Oil and Gas Regulatory Authority (OGRA) was directed to launch crack down on illegal sellers across the country.

The report highlighted that the sudden increase in the import of light alphabetic hydrocarbon solvent began in 2021, despite the absence of testing facilities in Quetta.

The committee has recommended an inquiry against Federal Board of Revenue (FBR) officials and suggested ending the price difference between petrol and solvent oil.