OCAC reassures public about non-shortage of petrol

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Karachi: Oil Companies Advisory Council (OCAC) on Thursday said there were adequate stocks of POL products in the country and ruled out any shortage reported a local newspaper.

According to OCAC CEO Ilyas Fazil, the total petrol stocks in the country stood at 200,000 tonnes and 220,000 tonnes of petrol imports were expected to land up in 10 days.

Fazil commented that there was no need of panicking, since there were adequate petrol stocks in the country and requested the public to remain calm.

In response to reported shortages of petrol in Lahore, Fazil said these reports had started flowing in last week and had created among consumers which resulted in panic buying of the commodity at several outlets.

He added, that transportation of petrol from Karachi had been maxed to all upcountry destinations and the situation was under control.

Last week, Profit had reported of a petrol shortage that was in the offing. All POL stocks were said to be in crisis mode, as total usable petrol stocks had declined below 130,000 tonnes which were only enough for 5-day usage.

Oil and Gas Regulatory Authority (OGRA) had last week issued an advisory to Petroleum division and called for taking action to prevent any such sort of crisis.

OGRA had said back then “As per the daily stock position of the Oil Companies Advisory Council (OCAC) dated Sept 14, low stocks (seven-day cover) of petrol are present in the country. The above position may become critical in the next two to three days in the case of any delay or skipping of any scheduled cargo of petrol.”

 

 

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