ISLAMABAD (Kashmir English): Petroleum Minister Ali Pervaiz Malik declared that Pakistan lacks enough petroleum reserves to last through one entire day. He made this statement while addressing concerns about the country’s petrol shortage situation.
He demonstrated how energy sector operations face difficulties because the storage facilities have reached their maximum capacity. He said the country depends heavily on imported fuel to meet daily demand.
He stated that authorities are establishing control systems to manage supply chains, which will provide hospitals with uninterrupted access to petroleum products.
He emphasized that organizations need to establish better planning methods together with stronger energy management policies, which would help them prevent future inventory shortages.
The government is currently conducting a review of its long-term energy strategies to decrease foreign energy dependence, according to his statement.
He identified two main objectives that will help maintain stable fuel supply operations: developing storage facilities and establishing better procurement planning practices.
Petrol Prices Set to Increase
Federal Minister for Petroleum Ali Pervaiz Malik has indicated that if the International Monetary Fund does not provide relief, the government may have to decide to impose a levy of Rs50 to Rs55 on petrol or diesel by next Friday.
He said that the government is constantly in touch with the IMF, and efforts are being made to avoid putting more burden on the people.
However, if no relief is found in the negotiations, difficult decisions will be inevitable to uphold the agreement.
The Petroleum Minister said that the government ensured the availability of oil during the recent crisis and did not allow any shortage to arise, although the country had limited reserves. Relief was provided to the people by spending about Rs100 billion in collaboration with the provinces.
He further said that at present the levy on diesel is zero, while its burden has been shifted to petrol. The price of diesel in Pakistan is relatively low compared to the global level. International financial cooperation is necessary to keep the economy stable.
