ISLAMABAD: The National Coordination and Management Council (NCMC) has assured the public that Pakistan has sufficient stocks of petroleum products to meet the country’s current demand, dismissing concerns about any fuel shortage.
The assurance came during an NCMC meeting held on Wednesday to review the nationwide availability of petroleum products. The meeting was attended by representatives of the Oil Companies Advisory Council (OCAC), the Federal Board of Revenue (FBR), the Oil and Gas Regulatory Authority (OGRA), and other relevant stakeholders.
The council reviewed the country’s fuel supply situation and concluded that existing petroleum stocks are adequate to cater to prevailing consumption levels.
During the meeting, representatives of the OCAC highlighted several supply-side challenges. However, the committee observed that these concerns were largely linked to an unusual surge in petroleum product sales during the first 15 days of July.
According to an analysis presented by OGRA, the sharp increase in fuel sales may be attributed to hoarding by some dealers and consumers anticipating a possible increase in petroleum prices.
The NCMC stressed that OGRA should strengthen its enforcement mechanism to curb hoarding and market manipulation. It also called upon provincial governments to closely monitor fuel distribution and ensure that petroleum products remain readily available to consumers without disruption.
Reaffirming its confidence in the country’s fuel reserves, the committee directed all relevant authorities and stakeholders to maintain an uninterrupted supply of petroleum products across Pakistan and take immediate action against any attempts to create artificial shortages.
