Petrol crisis: Govt issues notice to 9 more oil companies

The investigative committee over petrol crisis has issued the notice to 9 more private oil companies regarding artificial petrol shortage.

Petrol crisis

The investigative committee over petrol crisis has issued the notice to 9 more private oil companies regarding artificial petrol shortage.

According to media reports the investigative committee formed by the Federal government to probe into artificial shortage of petroleum products has completed the first phase of investigation. The investigative committee while deciding to call in more private companies has issued notice to 9 more companies.

The notice issued to the companies include Puma Energy, Zoom Marketing, Taj Gasoline, Gas and Oil Company. The investigative committee has issued the notices to Askari Oil, Shell, Hascol, Fuellers and Al Noor Petroleum.

Read more: Why have private petrol pumps created artificial petrol shortage?

The committee has called details of oil available in oil depot and supply of oil on the outlets.

Following curtailment in the prices of petroleum products by the government, country is facing shortage of petrol owing to refusal from the owners of private petrol pumps to sell the petrol on subsidized rate.

The country witnessed a major shortage in the supply of motor gasoline, commonly known as petrol, in many cities and towns as smaller stocks were quickly exhausted on the first two days of the month after price revision.

The vehicles congestion on PSO petrol pumps has increased amid the announcement from PSO that there is no shortage of petrol on the respective petrol pumps of PSO.

On the other hand private petroleum companies are of the view that government has reduced the prices of petroleum products enormously. They were having reservoirs of oil which they had purchased on previous cost.

Read more: Saudi Arabia, Russia & Mexico agree to production cuts: Implications for Pakistan?

Now the prices of petroleum products have been scaled up and petroleum levy has been increased, therefore, it is not possible for them to sell petrol at subsidized rate.

PSO sources said private petrol pumps owners have created artificial shortage as there is no shortage of petrol. Government should take notice of this situation, they added.

Online Int’l News with additional input by GVS News Desk

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