Pakistan has sufficient petroleum stocks to meet demand, officials say

Pakistan has adequate stocks of petroleum products to meet domestic demand, officials said during a meeting of the National Coordination and Management Council (NCMC).

The meeting reviewed the availability of petroleum products across the country. Officials informed participants that sufficient reserves are available, while representatives of the Oil Companies Advisory Council (OCAC) allayed concerns over fuel supplies.

According to the briefing, an unusually sharp increase in petroleum sales during the first 15 days of July raised concerns about supply. However, an analysis by the Oil and Gas Regulatory Authority (OGRA) suggested that the surge was likely driven by stockpiling amid expectations of a possible increase in fuel prices.

The NCMC directed OGRA to ensure strict enforcement against hoarding and instructed provincial governments to take effective measures to curb the practice.

The council also directed all relevant authorities to ensure the uninterrupted supply of petroleum products across the country and prevent any disruption in fuel availability to consumers.