NCMC says fuel reserves sufficient, orders action against hoarding

The National Coordination and Management Council (NCMC) has assured that Pakistan has sufficient petroleum reserves to meet the country's

ISLAMABAD: The National Coordination and Management Council (NCMC) has assured that Pakistan has sufficient petroleum reserves to meet the country’s current fuel demand and directed authorities to ensure an uninterrupted supply of petroleum products across the country.

The assurance was given during a meeting held to review the nationwide availability and supply of petroleum products. Representatives from the Oil Companies Advisory Council (OCAC), the Federal Board of Revenue (FBR), the Oil and Gas Regulatory Authority (OGRA) and other relevant institutions attended the session.

Officials informed the meeting that adequate stocks of petroleum products were available nationwide and that existing reserves were sufficient to meet current consumption requirements.

During the meeting, participants reviewed the challenges affecting fuel distribution. OGRA briefed the council on supply-related issues and informed members that petroleum sales had recorded an unusually sharp increase during the first 15 days of July.

The council observed that concerns over a possible increase in fuel prices may have encouraged panic buying and hoarding in some areas, putting additional pressure on the supply chain.

To address the situation, the NCMC directed OGRA to strengthen its monitoring and enforcement mechanisms to ensure smooth fuel distribution across the country.

The council also instructed provincial governments to take immediate action against hoarding and ensure that petroleum products remain readily available to the public without interruption.

Reaffirming that fuel reserves are sufficient to meet existing demand, the council stressed that there was no need for panic buying. It directed all relevant departments and regulatory authorities to maintain close coordination and prevent any disruption in the petroleum supply chain.