Action over ‘artificial shortage of petrol’ ordered

Published June 10, 2020
LARKANA: A large number of motorists and motorcyclists throng a fuel station to buy petrol in view of a shortage in the city on Tuesday.—APP
LARKANA: A large number of motorists and motorcyclists throng a fuel station to buy petrol in view of a shortage in the city on Tuesday.—APP

ISLAMABAD: The federal cabinet on Tuesday took serious notice of what it called the artificial shortage of petrol in the country and Prime Minister Imran Khan ordered maximum punitive action against all those responsible for this.

The prime minister while chairing the cabinet meeting called the Ogra (Oil and Gas Regulatory Authority) chairman and inquired about causes of the shortage of petroleum products in the country.

According to an official press release, the cabinet noted that Ogra and the Petroleum Division have legal authority to physically enter and inspect oil companies’ storage facilities.

The cabinet directed the petroleum ministry to form joint raid teams comprising representatives of the Pet­roleum Division, Ogra, Fed­eral Investigation Agency and district administrations.

The teams will inspect all petrol depots/storage. They have the authority to enter any site. “Anyone found involved in hoarding shall face full force of law, including arrest and forced release of such stores,” the directive said.

The meeting decided that any company found not maintaining the mandatory stocks and supply to its outlets, as per their licence, would face punitive actions, including suspension and cancellation of licence and heavy fines.

The prime minister directed the Petroleum Division and Ogra to take all actions necessary to ensure regular supplies within 48-72 hours.

The Ministry of Energy informed the cabinet that while total supplies in June 2019 were 650,000 tonnes, supplies arranged for June 2020 are 850,000 tonnes. The cabinet urged the public not to engage in panic buying. The stocks that are being hoarded will be identified and ensured to be available in the market. An action will be taken against hoarders.

The prime minister directed the minister of petroleum and Ogra to ensure that every oil marketing company maintains 21-day stock to meet its licence conditions.

Published in Dawn, June 10th, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...