Key Takeaways
- Federal Minister for Petroleum Ali Pervaiz Malik chaired a meeting to address concerns over fuel supplies.
- Officials reported adequate petroleum reserves and sufficient stocks to meet domestic demand.
- NCMC directed OGRA to enforce against hoarding and ensure uninterrupted supply.
The federal government has assured the public that Pakistan currently has sufficient stocks of petroleum products to meet domestic demand, despite a sharp increase in fuel consumption during the first half of July. This assurance came from a meeting of the National Coordination and Management Council (NCMC), chaired by Federal Minister for Petroleum Ali Pervaiz Malik.
At the meeting, representatives from various institutions including the Oil Companies Advisory Council (OCAC), Oil and Gas Regulatory Authority (OGRA), and the Federal Board of Revenue (FBR) Customs Wing attended to review the availability of petroleum products across the country. Officials informed the council that the country currently has adequate petroleum reserves and existing stocks are sufficient to meet consumer demand.
The meeting noted an unusually sharp increase in the sale of petroleum products during the first 15 days of July, which had raised concerns regarding fuel supplies. However, representatives from the OCAC assured the council that supply-related concerns had been addressed. According to OGRA’s analysis, this recent surge in demand may have been driven by concerns over a possible increase in petroleum prices, raising the risk of hoarding.
To address these concerns, the NCMC directed OGRA to ensure strict enforcement against hoarding and instructed provincial governments to take effective measures to prevent stockpiling while ensuring uninterrupted availability of petroleum products to consumers. The council also directed all relevant departments and stakeholders to maintain a continuous and uninterrupted supply of petroleum products across the country.
Minister Malik stated, 'We have taken necessary steps to ensure that there is no shortage of petrol in Pakistan. We are closely monitoring the situation and will take further action if required.' This assurance comes as a relief to many who had been concerned about potential shortages due to increased fuel consumption.
The meeting emphasized the importance of maintaining transparency and regular communication with all stakeholders involved in the petroleum sector. OGRA was instructed to conduct regular updates on stock levels and market trends to keep the council informed and ensure timely interventions if needed.
Provincial governments were also directed to work closely with local authorities to ensure that fuel distribution points remain operational and accessible to consumers. This collaborative approach aims to prevent any disruptions in supply and maintain public trust.
'We have taken necessary steps to ensure that there is no shortage of petrol in Pakistan.'
Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for Petroleum
