AVN 67.05 Increased By ▲ 1.85 (2.84%)
BAFL 31.05 Increased By ▲ 0.31 (1.01%)
BOP 4.88 Increased By ▲ 0.08 (1.67%)
CNERGY 3.78 Increased By ▲ 0.07 (1.89%)
DFML 14.49 Increased By ▲ 0.28 (1.97%)
DGKC 41.61 Increased By ▲ 0.56 (1.36%)
EPCL 46.22 Decreased By ▼ -0.23 (-0.5%)
FCCL 11.63 Increased By ▲ 0.23 (2.02%)
FFL 5.11 Increased By ▲ 0.06 (1.19%)
FLYNG 5.80 No Change ▼ 0.00 (0%)
GGL 10.40 Increased By ▲ 0.07 (0.68%)
HUBC 67.54 Increased By ▲ 0.67 (1%)
HUMNL 5.77 Increased By ▲ 0.06 (1.05%)
KAPCO 28.00 Increased By ▲ 0.24 (0.86%)
KEL 2.29 Increased By ▲ 0.09 (4.09%)
LOTCHEM 25.06 Increased By ▲ 0.16 (0.64%)
MLCF 21.67 Increased By ▲ 0.23 (1.07%)
NETSOL 86.06 Increased By ▲ 2.46 (2.94%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 11.06 Increased By ▲ 0.05 (0.45%)
PIBTL 4.23 Increased By ▲ 0.01 (0.24%)
PPL 80.15 Increased By ▲ 5.67 (7.61%)
PRL 13.64 Increased By ▲ 0.21 (1.56%)
SILK 0.89 Decreased By ▼ -0.03 (-3.26%)
SNGP 43.47 Increased By ▲ 3.07 (7.6%)
TELE 5.93 Increased By ▲ 0.07 (1.19%)
TPLP 15.82 Increased By ▲ 0.42 (2.73%)
TRG 114.88 Increased By ▲ 3.47 (3.11%)
UNITY 13.76 Increased By ▲ 0.01 (0.07%)
WTL 1.16 Increased By ▲ 0.02 (1.75%)
BR100 4,124 Increased By 87 (2.16%)
BR30 14,930 Increased By 518.1 (3.59%)
KSE100 41,191 Increased By 719.6 (1.78%)
KSE30 15,494 Increased By 331.4 (2.19%)
Business & Finance

OGRA refutes reports of diesel shortage in country

  • Says sufficient diesel stocks are available in the country to cater to the necessary demand
Published November 8, 2022
Follow us

The Oil and Gas Regulatory Authority (OGRA) on Tuesday dismissed reports regarding the looming shortage of diesel stocks in the country.

In a statement, OGRA spokesman Imran Ghaznavi rejected news appearing in certain sections of the media about the shortage of diesel in the country, terming it “incorrect and misleading”.

“Sufficient diesel stocks are available in the country to cater to the necessary demand,” Ghaznavi said in a brief statement.

The spokesperson added that reports about “limited stocks” of diesel in the country were “not correct”.

Earlier, the Oil Companies Advisory Council (OCAC), a representative body of the downstream oil industry, warned of a shortage of petroleum products in Pakistan in coming days owing to inadequate imports and limited local availability.

OCAC, in a letter sent to OGRA on November 3, a copy of which is available with Business Recorder, said that during a product review meeting for the month of November held on 13 and 14 October, a deficit of 210,000 MT of High-Speed Diesel (HSD) and 147,000 MT of Motor Spirit (MS) was identified.

"Considering the ongoing sales trend and the number of days cover currently being maintained by the OMCs, we foresee product availability challenges in various pockets of the country in days to come, due to inadequate imports and limited local avails," it added.

It urged OGRA to look into this matter and issue necessary directives to importing OMCs, “for strict adherence to their imports plan along with written confirmation in order to avoid any untoward situation.”

Facing growing energy demand, Pakistan heavily relies on fossil fuels to power its economy and a major chunk of its import bill comes from the purchase of petroleum products and other fuels.

Comments

Comments are closed.

OGRA refutes reports of diesel shortage in country

Pakistan, IMF grapple for consensus to unlock critical funding

PM Shehbaz orders immediate restoration of Wikipedia

Daraz Group lays off 11% global workforce to prepare for ‘current market reality’

Rupee up 0.46%, ends day at 275.30 against US dollar

KSE-100 jumps over 700 points amid return of positive sentiment

Pharmaceutical companies seek ‘inflationary adjustments’ in medicine prices

Second hike in two weeks: Honda Atlas jacks up car prices by up to Rs550,000

PM Shehbaz announces aid for quake-hit Turkiye

India opens its largest helicopter factory in new defence push

Govt projection of achieving $3bn current account surplus in FY23 ‘unrealistic’: PBC