ISLAMABAD: Federal Minister for Economic Affairs, Ahad Cheema, has reassured the nation that Pakistan possesses ample reserves of petroleum products and that there is no shortage of fuel in the country.
The statement comes amid growing concerns over reduced fuel supplies to petrol stations, particularly in Punjab.
A high-level meeting was convened under the chairmanship of Federal Minister Ahad Cheema to review the supply and demand of wheat and petroleum products across the country.
During the meeting, the Chief Secretary provided a briefing, confirming that the supply and demand of wheat in the provinces remain normal.
The meeting also focused on the availability of petroleum products and the potential hoarding by oil marketing companies. Concerns were raised about the impact of reduced fuel supplies on both urban and rural areas, as reported by the Petroleum Dealers Association Central Punjab.
This came amid media reports citing Chaudhry Nauman Majeed, President of the Petroleum Dealers Association Central Punjab, who stated that petrol pumps are receiving only about 50% of the fuel required to meet demand. He attributed the reduction in supply to rising crude oil prices in the international market, which have reportedly led to limited deliveries affecting nearly 90% of petrol pumps in rural areas and about 50% in urban centers.
In response to challenges, the Federal Minister directed the Chief Secretaries to assist in taking strict action against hoarding by petrol pumps and oil marketing companies. Ahad Cheema emphasized that artificial shortages will not be tolerated for profiteering purposes.
“Legitimate businessmen will not be harassed, but strict action will be taken against hoarding and profiteering as per the law,” the Minister stated.
He further assured that the government is committed to ensuring a stable supply of petroleum products and will not allow any manipulation of the market.
Wheat Supply: PASSCO Reserves to Meet Additional Provincial Needs
Addressing concerns about wheat supply, Ahad Cheema announced that any additional requirements of wheat in the provinces will be met from the reserves of the Pakistan Agricultural Storage and Services Corporation (PASSCO). This move aims to maintain a balanced supply and prevent any potential shortages.
