PM Imran takes notice of petroleum shortage

ISLAMABAD: Expressing serious concerns over the ongoing artificial shortage of petroleum products across the country, Prime Minister Imran Khan has ordered strict action against those behind it.

Presiding over the federal cabinet meeting, PM Imran expressed concern over the artificial shortage of petroleum products being created in the country by oil marketing companies (OMCs) and petrol dealers, adding that no mercy would be shown to the elements found guilty of fuel shortage.

The prime minister directed the minister for petroleum and OGRA to ensure that every oil marketing company (OMC) maintains 21 days of stock to meet its license conditions.

He also directed that the Petroleum Division and OGRA take all actions necessary to ensure regular supplies within 48-72 hours.

Sources said that the cabinet ordered the petroleum division to form teams for conducting raids. As per the law, Oil and Gas Regulatory Authority and petroleum division officials can inspect stores of the oil companies, sources quoted the cabinet members as saying.

On this occasion, Federal Minister for Energy Omar Ayub said that some companies stopped buying petrol after an increase of $12 in the global market. “The oil companies which ended the stock, we are canceling their licenses,” Ayub added.

Federal minister Murad Saeed said OGRA kept on sleeping, while long queues formed outside the petrol pumps across the country, he added.

Meanwhile, sources informed that the cabinet also approved action against those named in the sugar crisis inquiry report. The federal cabinet also reviewed the decisions taken by the Economic Coordination Committee on June 3, according to its agenda.

The cabinet also reviewed the countrywide situation and discuss important national matters such as the upcoming budget and measures against the coronavirus.

Earlier this week, it was reported that petrol pumps spread over the country have been facing a shortage of fuel supply, adding to the difficulties of the public as well as transporters.

On Monday, Minister for Power and Petroleum, Omer Ayub had expressed concern over the artificial shortage of petroleum products being created in the country and clarified that the country has adequate diesel stock.

Talking to media he said, “The general public need not engage in binge buying petrol as sufficient stocks of petroleum products are available in the country.”

He said at present the country has petrol reserves for ten days. In the next two or three days, two tankers of sixty-five thousand metric tons will dock at our ports.

“Petroleum Division is vigorously monitoring the situation and had directed all refineries to enhance their production,” he added.

Ayub had expressed concern over the artificial shortage of petroleum products being created in the country by oil marketing companies (OMCs) and petrol dealers.

He said, unfortunately, some oil marketing companies and their dealers have resorted to such methods for profit maximization that are having an adverse impact on the lives of the esteemed consumers.

The minister said the FIA had been given instructions to check the stocks of all oil marketing companies. In addition, the administration has been directed to seal and cancel the licenses of those petrol pumps not selling the fuel, he mentioned.