ISLAMABAD - Despite availability of enough Petrol and HSD stock in the country, the Petroleum Division and OGRA have failed to ensure its availability at the petrol pumps.
The government and the regulator, instead of taking a stern action against the OMC/oil dealers, still seems to be heavily relying on warnings and advices.
The Petroleum Division Friday said that it will take a strict action including the cancellation of licenses of the oil companies involved in the profiteering.
It is worth to mention here that since the reduction of petroleum prices in May the country was first struck by the High Speed Diesel crisis and now for the last one week there were complaints of petrol shortage across the country. Since Monday night, petrol pumps in some parts of the country had dried up and the pumps with the petrol stocks witnessed long queues of vehicles.
It is worth to mention here that none of the OMCs except PSO is maintaining the requisite 20-day stocks but no action has been taken against any of the OMC so far.
The spokesman of the Petroleum Division said that it is cognizant of the artificial shortage of POL products that is being created in the country by some OMCs and Petrol Dealers.
Petroleum Division emphatically stated that there is a sufficient quantity of petrol stocks in the country. Additional production by refineries as well as planned imports is on schedule to meet the monthly needs.
It is unfortunate that some OMCs and/or their dealers have resorted to such methods for profit maximization that is causing shortages for the general public.
However, appropriate actions are being taken jointly by Petroleum Division, Oil & Gas Regulatory Authority, Competition Commission of Pakistan and all relevant stakeholders, including the Provincial Governments proactively normalize the situation.
The spokesman said that Petroleum Division is in contact with all OMCs and most OMCs do not have any major shortages. Shell and Total Parco are low on stocks but their additional imports are arriving on 8-10 June after which their stocks will also be replenished.
The Petroleum Division urges the Public at large and petrol dealers to not engage in panic buying.