Oil dealers demand probe into fuel shortage

Allege oil firms delayed import of petroleum products, violated rules

ISLAMABAD: Petroleum retailers have demanded that the government conduct a comprehensive probe into the nationwide fuel shortage and have urged authorities to fix responsibility.

In a meeting on Tuesday, the All Pakistan Petroleum Retailers Association noted that all oil companies, except for Pakistan State Oil (PSO), delayed the import of petroleum products and violated rules of maintaining fuel stock, which resulted in scarcity of petrol across the country. All Pakistan CNG Association Central Chairman Ghiyas Paracha said an unnecessary delay in the import of petroleum products caused a colossal revenue loss worth billions of rupees to the government while consumers were deprived of the benefit of reduced prices.

“At present, oil marketing companies have halted supplies to petrol pumps while some filling stations are receiving reduced supplies, which are insufficient to satisfy the demand from consumers,” he said.

Paracha added that the shortage of petroleum products could hurt the transport sector and lead to a hike in fares of public transport.

He stressed that petroleum products should be imported immediately and companies should be forced to abide by rules and regulations.

Petroleum dealers had suffered immensely during the lockdown and now fuel scarcity was denting their business, he remarked.

“Issues of owners of filling stations should be addressed and a new pricing formula for refineries, oil marketing companies and dealers should be introduced,” Paracha emphasised. “The oil and gas sector needs a new pricing formula according to the changed local and global situation amid pandemic as the old formula is no longer viable.”

Published in The Express Tribune, June 3^rd, 2020.

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