Government Forms Committee to Probe OMCs’ Alleged Rs 72 Billion Profits

ISLAMABAD – Prime Minister Shehbaz Sharif has established a high-level committee to investigate alleged windfall profits of approximately Rs 72 billion earned by oil marketing companies (OMCs) during recent global oil price volatility.

The committee, headed by Finance Minister Muhammad Aurangzeb, has been tasked with reviewing the cross-subsidy mechanism and considering the potential recovery of the alleged extraordinary gains. The review will assess whether domestic pricing structures allowed OMCs to make abnormal profits from fluctuations driven by geopolitical tensions.

Ahead of the federal budget, the committee will also examine broader fiscal issues, including expenditure rationalization, austerity measures, energy sector reforms, and the rightsizing of federal ministries. Its members include the ministers for economic affairs, planning, and law.