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Monday, February 26, 2024

Pakistan has sufficient petrol, diesel stocks to meet domestic demand: OGRA

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Pakistan’s Oil and Gas Regulatory Authority (OGRA) said that the country has sufficient petrol and diesel in stock to meet domestic demand after rumors of shortage triggered panic buying of petrol and diesel in all major cities of Pakistan.

“Sufficient stocks of petrol and diesel are available across the country,” OGRA Spokesman Imran Ghaznavi said in a statement on Tuesday, adding that the country has enough petrol and diesel stocks for meeting the needs of 18 and 37 days, respectively.

He said that the local refineries are also playing their due role in meeting the demand for petroleum products.

Earlier, the Oil Companies Advisory Council of Pakistan (OCAC) highlighted challenges being faced by oil marketing companies and refineries due to delays in the opening of letters of credit for the import of petroleum products.

The OCAC has requested the federal government to intervene immediately to ensure the timely issuance of letters of credit to avoid a fuel shortage in the country.

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