26.9 C
Karachi
Friday, March 29, 2024
- Advertisement -
 

Fuel shortage to end across country in 72 hours: Omar Ayub  

TOP NEWS

Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

ISLAMABAD: Federal Minister for Petroleum Omar Ayub on Thursday blamed hoarders for creating an artificial fuel shortage in the country and warned that they would face cases and imprisonment if supply is not restored, ARY NEWS reported.

“The issue of fuel shortage in the country will be resolved within 72 to 48 hours,” he said while talking during ARY NEWS programme, Power Play, and added that lowering of fuel prices have hurt the oil mafia badly.


Speaking regarding fuel reserves in the country, Omar Ayub said that the demand for petroleum products fell by 57 percent during lockdown in March this year.

“The government imposed ban on oil imports during the period,” he said while stating that the step exposed various oil companies, who had enough reserves at that time.

He, however said that the demand for petrol has witnessed an increase in 2020 that is 850,000 tonnes as compared to 617,000 tonnes demand in 2019.

Read More: Ogra imposes Rs 40 million fine on oil companies over fuel shortage

“There is only shortage of petrol in the country as diesel reserves are enough to fulfill country needs,” the petroleum minister said while claiming that they had received reports of oil being dumped at godowns.

He said that the government has separate oil stocks for defence and commercial purposes.

Speaking over hike in electricity prices, the minister blamed it on depreciation in rupee value and agreements with power companies on higher tariffs from the previous government.

He said that they would only pay companies who would produce electricity.

Omar Ayub further announced that all special assistants and advisers in the federal government would reveal their assets as per the set deadline.

- Advertisement -
- Advertisement -
 

POLL

Will the PML-N led govt be able to steer Pakistan out of economic crisis?

- Advertisement -
 

MORE STORIES