Islamabad (September 19, 2017): The Oil and Gas Regulatory Authority (OGRA) has Written a letter to Director General Oil and the Oil Companies Advisory Council (OCAC) informing them that the stock of the petroleum fuel in the country has dipped to meet only seven days demand instead of 20 days as required.
Industry sources blamed private oil marketing companies to import petrol last month as per their respective shares which put the entire pressure of state-owned Pakistan State Oil (PSO). The PSO spokesman says that despite the crisis the petroleum supply was mainrtained as usual.
The CEO of OCAC Ilyas Fazil agrees that private oil marketing companies failed to import petroleum as per their relevant shares last month which worsened the petroleum supply situation.
He also said that the private oil marketing companies will be importing petroleum within a few days that will improve the petroleum supply situation and to push the stock to meet 10 days need instead of seven days presently within next two days. There is petroleum shortage for last two months and any suspension of petroleum imports disrupts the daily routine of the consumers immensely.
He further informed that that petroleum demand in the country has registered a 15 percent increase over the last year due mainly to lower prices and increase economic activities.
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