Sitara Petroleum Service Limited (PSX: SPSL) has clarified that it has no connection with the ongoing Federal Investigation Agency (FIA) investigation involving alleged customs duty and petroleum levy evasion in Pakistan's oil marketing sector, emphasizing that it does not operate as an Oil Marketing Company (OMC).

In a statement issued from its Lahore head office, the company said it functions solely as an authorised dealer operating a nationwide network of retail fuel stations and neither imports petroleum products nor procures fuel directly from refineries.

The clarification follows the registration of an FIA First Information Report (FIR) on June 24, 2026, against Gas & Oil Pakistan Limited (Go Petroleum), its chief executive, and several officials over allegations of illegally removing bonded petroleum products without filing mandatory customs declarations or paying applicable duties and levies.

SPSL stressed that the allegations contained in the FIA case relate specifically to customs-bonded warehouse operations and petroleum imports—activities that fall outside the company's business model. It further clarified that it does not hold bonded warehouse licences and has no exposure to Price Differential Claims (PDCs), confirming that there are no outstanding PDC liabilities against the company.

The company also stated that no law enforcement agency or regulatory authority has initiated any inquiry, investigation, or legal proceedings against SPSL in connection with the FIA case.

Reaffirming its commitment to transparency and regulatory compliance, SPSL urged shareholders and investors to rely only on official disclosures issued through the Pakistan Stock Exchange and the company's authorized communication channels.

The FIA investigation centres on allegations that Go Petroleum unlawfully removed bonded stocks of High Octane Blending Component (HOBC) and petroleum products without completing mandatory customs procedures or paying applicable government duties, resulting in alleged revenue losses running into billions of rupees.

The investigation involves multiple regulatory agencies, including the FIA, Pakistan Customs, and the Oil and Gas Regulatory Authority (OGRA), and is expected to lead to broader scrutiny of bonded petroleum terminal operations across the country.

SPSL's clarification is aimed at reassuring investors that the listed company remains unaffected by the ongoing investigation and continues to operate under established regulatory and corporate governance standards.