Islamabad (The COW News Digital) Pakistan is facing a severe threat of a nationwide fuel shortage as domestic stocks of petrol and diesel drop to critical levels.
In an emergency letter addressed to the Federal Minister for Petroleum and the Chairman of the Oil and Gas Regulatory Authority (OGRA), the Oil Companies Advisory Council (OCAC) warned that the country holds only 18 days of petrol and 27 days of diesel reserves. The advisory body highlighted that liquidity shortages are making it increasingly difficult for Oil Marketing Companies (OMCs) to procure petroleum products and maintain mandatory strategic reserves.
The financial strain stems from outstanding government dues totaling PKR 66.7 billion in price differential claims and margins owed to OMCs. According to OCAC General Secretary Nazir Abbas Zaidi, despite promises of settlement within 15 days, the funds remain locked six months later, forcing companies to deplete their inventory to clear bank and supplier obligations.
The OCAC has urged OGRA to immediately release the trapped funds and address the delayed adjustment of the PKR 1.22 per liter margin for OMCs to restore supply chain liquidity and avoid a widespread energy crisis.
