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‘No risk of petrol or diesel shortage in country’

by Pakistan Latest News Update
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 The Oil and Fuel Regulatory Authority (OGRA) has issued a clarification on the information associated to the scarcity of petrol and diesel within the nation.

Taking to Twitter OGRA Spokesperson Imran Ghaznavi stated Sunday that there “is ample stock of petrol and diesel” within the nation. “OGRA strongly denies reports of shortage of petrol and diesel in the country.”
He added, “Sufficient stocks of petrol and diesel are available across the country. OGRA strongly rebuts the speculations on petrol/diesel shortages. Useable stocks in the country are good enough for 17 days of petrol and 32 days of diesel.”

Press Assertion Adequate shares of Petrol& Diesel can be found throughout the nation.OGRA strongly rebut the speculations on Petrol/diesel shortages.Useable shares within the nation are ok for 17 days of Petrol & 32 days of Diesel 1/2Spokesman OGRA
— Imran Ghaznavi (@ighaznavi) January 15, 2023

Press Assertion Adequate shares of Petrol& Diesel can be found throughout the nation.OGRA strongly rebut the speculations on Petrol/diesel shortages.Useable shares within the nation are ok for 17 days of Petrol & 32 days of Diesel 1/2Spokesman OGRA
— Imran Ghaznavi (@ighaznavi) January 15, 2023
The OGRA spokesperson additionally stated that one other 80,000 metric tons of petrol ships and one other 90,000 metric tons of diesel ships are at berth/outer anchorage and that native refineries have been absolutely purposeful in making certain that the demand for petroleum merchandise was met.
Elaborating on this within the Twitter thread, he stated: “Furthermore, ships carrying 80,000MT petrol (MS) and 90,000MT HSD (diesel) are at berth/outer anchorage. The local refineries are also operational and playing their due role in meeting the demand for petroleum products.”
The chain of petroleum merchandise would take six to eight weeks to normalise within the nation if it was compromised on the idea of the refusal of banks to settle letters of credit score (LCs) for the import of crude and petroleum merchandise, the oil trade feared on Friday.
These fears have been expressed by the Oil Corporations Advisory Council (OCAC) – the consultant physique of refineries and oil advertising and marketing corporations (OMCs) — on Friday to the Ministry of Finance.
The OCAC sought the ministry’s intervention within the matter after its members began going through points within the settlement of LCs. This occurred although oil imports have been put within the listing of important gadgets for opening and settlement of credit score letters.
The OCAC, referring to challenges being confronted by the OMCs and refineries within the opening of LCs for the import of petroleum merchandise, famous that Pakistan has an power deficit, and in an effort to fulfil power demand, roughly 430,000 tons of Mogas, 200,000 tons of high-speed diesel and 650,000 tons crude oil was imported on a month-to-month foundation at a value of round $1.three billion by the opening of LCs.
Nonetheless, at the moment, the trade was going through extreme challenges in opening and affirmation of credit score letters, which has brought about delays in a number of cargoes and some cancellations as effectively, it stated.
The OCAC identified that the scenario has severely deteriorated throughout the present month as banks have been declining LC institution to trade members.
“If LCs are not established on a timely basis, critical imports of petroleum products would be impacted which may lead to a fuel shortage in the country,” the OCAC added.





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