Pakistan is experiencing a petrol crisis since only four large oil marketing companies (OMCs) out of 50 own 90% of the country’s stock of the fuel, and the remaining corporations are not importing it out of concern for currency losses, as per the records of Saturday
The most populated province, Punjab, is suffering the most from a shortage of gasoline in the nation. The province’s principal fuel is not available in any of its large or minor cities, towns, or villages.
Despite the government’s advice to the populace not to stockpile gasoline in expectation of a price increase in the upcoming fortnightly review, scheduled for February 15, 2023, the problem has gotten worse in recent days.
The government, petroleum dealers, and oil marketing corporations have all been pointedly accused by sources in the nation’s oil industry. They made note of the fact that the majority of businesses did not import gasoline due to currency losses, which the government had only partially and gradually corrected.
They said that smaller OMCs didn’t even have 20 days’ worth of gasoline on hand since they were avoiding importing the fuel out of concern for exchange rate losses.
Only four companies—Pakistan State Oil (PSO), Shell Pakistan, Total Parco, and Attock Petroleum—were importing gasoline, and they own 90% of the available supply. There are roughly 50 OMCs operating in the nation, some of which have limited supply and others of which have run out of supplies.
