The federal government decided on Wednesday to introduce legislation to curb the smuggling and illegal trade of petroleum products.
A bill proposing amendments to the Petroleum Act 1934 has been presented in the National Assembly. Under the proposed amendments, any petrol pump found in possession of smuggled petroleum products may either be confiscated by the government or fined up to Rs10million.
According to the bill submitted in the lower house, the concerned deputy commissioner or assistant commissioner will be obligated to hand over the seized petrol pump’s ownership to customs authorities.
The bill also calls for digital tracking of petroleum product storage, monitoring and transportation to petrol pumps. Smuggling, unauthorised storage, or illegal sale of petroleum products will incur a fine of Rs1million, while repeat offences will attract a fine of Rs5million.
Moreover, in the case of unlicensed sale of petroleum products, the relevant district administration will be authorised to seize all assets of the involved petrol pump.
Owners of petrol stations whose licences have expired will be granted a grace period of six month.
