ISLAMABAD - Minister of State for Petroleum Dr Musadik Malik Wednesday avowed that the country has sufficient fuel stocks and warned hoarders of petroleum products of dire consequences.
“Crackdown against the hoarders of petroleum products is about to start, and you will see a visible improvement in the oil supply at petrol pumps within next two to three days,” the Minister said this while addressing a press conference here. It is worth to mention here that petrol pumps in several cities of Punjab have suspended their operations, while others have started rationing of petrol owing to fuel shortage. However, the minister claimed that there are sufficient petroleum stocks available in the country, including oil marketing companies (OMCs), pipe, and oil refineries. While sharing the data with media, the Minister said, there are 363,085 metric tons of petrol available which are sufficient for over 20 days. Besides, diesel stock is available sufficient for 29 days.” He added that this available stock is in addition to cargoes in the sea or waiting for berthing. He warned the hoarders to “stop these practices today, otherwise, if we found any filling stations involved, we will revoke their licenses. I request to those hoarding petroleum products to shun this practice and do not challenge the writ of the state, as we will ensure it at any cost.” However, the Minister of State for Petroleum said that not all, but a few hoarders have dumped these products, hoping to sell them at higher prices in the coming days, but we have no plan to increase the POL prices. It will be decided according to international market prices and on its scheduled time