The National Coordination and Management Council (NCMC) confirmed on Thursday that Pakistan has sufficient stocks of petroleum products and directed the relevant authorities to ensure a continuous and uninterrupted fuel supply to the public.
The availability of petroleum products was reviewed during an NCMC meeting. The Oil and Gas Regulatory Authority (Ogra) pointed to the fears of hoarding following the increase in fuel prices. The NCMC said the unusual rise in sales had raised concerns about supply.
NCMC directs Ogra to ensure effective enforcement against hoarding
The NCMC directed Ogra to ensure effective enforcement against hoarding. It also instructed provincial governments to prevent hoarding and ensure an uninterrupted supply of fuel.
The meeting was told that petroleum stocks were sufficient to meet demand and that ample reserves of petroleum products were available across the country.
Federal Minister for Petroleum Ali Pervaiz Malik attended the meeting along with members of the NCMC. Representatives of the Oil Companies Advisory Council (OCAC), the Federal Board of Revenue (FBR) Customs, Ogra and other relevant organisations also took part.
Moreover, the concerns raised by the OCAC representatives regarding the fuel supply were reviewed and addressed. The NCMC said that the sales of the petroleum products increased during the first 15 days of July, and the sharp rise in sales led to concerns about supply.
The Ogra highlighted the risk of hoarding following the fuel price increase. The NCMC instructed Ogra to ensure effective enforcement against hoarding and also directed provincial governments to prevent hoarding and maintain an uninterrupted fuel supply.
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