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Sufficient petrol stock available in the country?

Aizbah KhanWeb Editor

08th Jun, 2020. 07:18 pm
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Sufficient petrol stock available in the country: Petroleum ministry

Petrol shortage rumors are cleared now by higher officials. Federal Minister for Energy Omar Ayub chaired a high-level in the Petroleum Division on the issue of shortage of petrol.

According to the details, Federal Minister Omar Ayub expressed deep concern over the ongoing crisis in the country and directed strict action against those responsible for the petrol shortage.

During the meeting, the committee was formed headed by DG Oil to determine those responsible for the shortage and to inspect depots of oil marketing companies and retailers.

On the recommendations of the committee, stern action will be taken against those responsible. Oil Marketing Companies Directed to Supply Additional Petrol in Malakand, Faisalabad and Hyderabad Divisions.

The petroleum ministry stated that the country has ample reserves of petrol, 14,536 metric tons of usable petrol is available in the country. This petrol is enough to meet the needs of the country for the next ten days, the ministry added.

Earlier, the government blamed oil marketing companies and retailers for creating an artificial shortage of petrol to maximize profits.

Energy and Petroleum Minister Omar Ayub said in a tweet that some oil marketing companies and retailers are creating artificial shortages of petrol and diesel to make illicit profits. He said the government had decided to expose these companies and dealers and take action against them with the help of regulators and provincial governments.

The federal minister announced that “their licenses will be revoked” and claimed that there was no shortage of petroleum products in the country. On the other hand, the Oil and Gas Regulatory Authority (OGRA) has warned the oil companies that despite the fall in product prices, the prices have been set in a seemingly concerted and uncompetitive manner for artificial growth.

Some oil companies have blamed the director-general of the petroleum division for worsening the situation through unwise decisions, saying the government had earlier stopped importing oil and rescheduled several approved companies. A statement issued by the Petroleum Division also claimed that the country has adequate stocks of petroleum and diesel and citizens should refrain from panic buying.

“The Petroleum Division is making it clear that there is an adequate supply in the country,” the statement said.

Also read: Petrol shortage cause severe difficulties for citizens

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