Pakistan is currently browsing the vicious circle of the petroleum crisis. Reportedly, several petrol pumps within the country are closed thanks to the shortage of oil. Besides, the shortage of oil is making the lives of the multitude quite difficult.
Sameer Najmul Hassan, chairman of All Pakistan Petroleum Retailers Association (APPRA), commented on the difficulty. He said the Petrol companies ran in need of oil. They are left with a stock hardly enough to last quite three days, Hassan added.
He also said the new quota of oil products isn’t being bought due to a continuing decrease within the quota of oil companies. No firm aside from the Pakistan State Oil (PSO) is buying oil at the present.
“The situation is predicted to travel from bad to worse till Sunday, The APPRA chairperson had warned before the crisis.
Oil and Gas regulatory agency OGRA was asleep and will not prevent the shortage of oil within the country. Additionally, Prime Minister Imran Khan‘s cabinet failed to regulate the prices of the oil. Which hindered other companies to buy oil. Furthermore, there was no mechanism to convince company buyers to get petrol.
Furthermore, Imran Khan declared during a cabinet meeting that supplies for June 2020 stood at 850,000 metric tonnes, compared to 650,000 metric tonnes within the same period of last year.
Moreover, Minister for Postal Services Murad Saeed said the OGRA, Kept on sleeping, while long queues formed outside the petrol pumps.
The mismanagement of state-led to a rise in prices of Petrol and Diesel across the country, soaring the depression within the country. Petrol pumps are charging double the recommended price, Reportedly.
PM Khan Orders Action
Prime minister ordered the Oil and Gas regulatory agency (OGRA) and Petroleum Division to require required action to ensure regular supplies petrol within 2 to three days.
Furthermore, the PM also directed Petroleum Minister Omar Ayub Khan and therefore the OGRA to form sure that each one oil marketing companies (OMCs) preserved 21 days’ worth of stock so as to meet the license stipulations.
The cabinet advised the general public to abstain from buying petrol. “Stocks being hoarded are going to be identified and made available within the market, while action is going to be taken against hoarders,” the statement read.
Besides, PM also ordered to research the entire saga. The examination teams would include the representatives of the Petroleum Division, OGRA, the Federal Investigation Agency (FIA), and particular district administrations.
“The teams shall inspect all petrol depots/storage. They have complete authorization to enter any site,” it continued. “Anyone found involved in hoarding shall face the complete force of law, including arrest and made release of such stores.
Author: Nadia Arshad, an SEO Content Writer