Minister of State for Petroleum Dr Musadik Malik asserted on Wednesday that Pakistan had sufficient fuel supplies as he warned those hoarding petrol and diesel stocks of \u201cdire consequences\u201d.
\nThe comments come as a number of petrol pumps in several major and small cities of Punjab have been facing a severe shortage of petrol.
\nThe situation is particularly troubling in some major cities, including Lahore, Gujranwala and Faisalabad, where several petrol pumps have either no or a meagre supply of petrol for the last many days allegedly due to squeezed supply from oil marketing companies (OMCs).
\nAddressing a press conference today in Islamabad, Malik warned hoarders and said: \u201cSome people, like always, are hoarding \u2026 I want to request those people to stop today and consider this request a warning \u2026 you won\u2019t be able to hoard and rob the people\u2019s right.
\n\u201cThis is our resolve and you will have to bear very strict consequences if you persist. We will cancel your licences. Your business will end as a result of your attempt to avail the benefits for four to five days.\u201d
\nThe minister was of the view that a \u201cfew people\u201d were involved in creating an artificial shortage with the aim of selling fuel in the future at exorbitant rates.
\nHe said the government would ensure the state\u2019s writ at any cost. \u201cI request to those hoarding petroleum products to shun this practice and to not challenge the writ of the state.\u201d
\nRegarding current stocks of petroleum products, the minister said: \u201cSufficient useable stocks of petroleum products are available in the country to meet petrol needs for 20 days and diesel for 29 days. This excludes cargoes arriving and waiting in the sea for berthing.\u201d
\nMalik said prices of petroleum products were revised by the government as per the scheduled time, international market and rupee-dollar parity, adding that at the moment \u201cthere is no plan to raise prices\u201d.
\nReplying to a question, he said an agreement with Russia would hopefully be finalised, following which low-cost crude oil would start arriving in Pakistan.
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