Oil marketing companies (OMCs) across Pakistan have voiced strong concerns over new verification requirements introduced by the Oil and Gas Regulatory Authority (OGRA) for processing price-differential claims (PDC), warning that the move could delay reimbursements and intensify liquidity pressures within the sector.
According to recent communication from OGRA, companies have been directed to submit scanned copies of reconciled and certified sales invoices, duly signed by their chief executives or chief financial officers. In addition, OMCs are now required to obtain verification from external auditors before filing their PDC claims.
The regulator maintains that these measures are aimed at improving transparency and accelerating the processing of subsidy claims. However, industry representatives argue that the requirements are not aligned with standard business and auditing practices, raising concerns about their practicality.
A senior official at a leading oil marketing company noted that external auditors typically do not certify individual invoices as part of their audit scope, making compliance with the new rules difficult. Industry stakeholders fear that the added documentation and multi-layer verification process could significantly slow down claim submissions and approvals.
Under the PDC mechanism, the government compensates OMCs for selling petroleum products at regulated prices lower than actual costs. In recent months, companies have reportedly financed substantial amounts from their own resources, with estimates suggesting around Rs. 205 per liter on diesel and Rs. 100 per liter on petrol.
Executives within the sector warn that any further delay in reimbursements could deepen cash flow challenges and strain the operational stability of OMCs, even as they continue to ensure uninterrupted fuel supply nationwide. They also pointed out that audit firms are unlikely to carry out invoice-level verification, as such tasks fall outside conventional auditing practices.
Industry officials caution that prolonged delays in PDC payments could have broader implications for the petroleum supply chain, potentially affecting the overall stability of the energy sector in Pakistan.
