Federal Minister expressed his deep concern over the artificial petrol shortage across the country by some OMCs and/or their dealers
A video conference was held at the Petroleum Division this morning to address the issues arising out of scarcity of POL products in the country. The meeting was chaired by the Federal Minister for Energy; Mr. Omar Ayub Khan. Special Assistant to Prime Minister on Petroleum, Mr. Nadeem Babar and Secretary Petroleum Mr. Mian Asad Hayaud Din also attended the meeting. Other stakeholders such as OGRA and OMCs also participated in the video conference to mitigate demand supply challenges. Federal Minister expressed his deep concern over the petrol shortage across the country due to artificial shortage by some OMCs and/or their dealers for profit maximization that had resulted in shortages/ dry outs having an adverse impact on the lives of the general public. The following decisions were made at the conclusion of the meeting:- A committee has been formed under supervision of DG Oil to verify stock availability, and identification of black marketing, and hoarding by OMCs. OMCs shall not be allowed to ration supplies of petroleum products to retail outlets. Government will take strict action against the dealers involved in overcharging and hoarding. OMCs will not be allowed to cancel or defer their planned cargoes for June 2020. Refineries are directed to produce their committed volume of petroleum products. OMCs to move Mogas from Karachi ports to main consumption centers immediately. In this regard, a committee has also formulated to inspect OMCs installations/depots to verify their stocks, physically. License of OMC(s) will be cancelled by the regulator if anyone found negligent. OMCs to ensure additional supplies to Malakand, Faisalabad and Hyderabad Divisions. OCAC is asked to issue Press Statement indicating that there are sufficient stocks of petrol present in the country and all import of POL is lined up to meet demand. OGRA may deploy vigilance teams in the field to verify available stocks of OMC’s depot and retail outlets. Moreover, it was stressed that additional production by refineries as well as planned imports be on schedule to meet the monthly needs. The details of stocks available in the country are as under: Petrol Useable Stocks (07. 06.2020) 214,536 MTs Days Cover 10 days In conclusion, it was decided to take the proactive and appropriate actions jointly by Petroleum Division, Oil & Gas Regulatory Authority, and all relevant stakeholders, including the Provincial Governments to normalize the fuel supply situation across the country. The Petroleum Division urges the Public at large and petrol dealers not to engage in panic buying.