OGRA rejects OCAC's reservations about diesel shortage

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) on Tuesday rejected the reservations of Oil Companies Advisory Council (OCAC) About the shortage of diesel in the country.

“Sufficient diesel stocks are available in the country to cater to the necessary demand,” OGRA spokesman Imran Ghaznavi said in a brief statement, after the OCAC penned letter to the authority highlighting the shortage of diesel.

He said it had been noted that certain sections of the press reported about “limited stocks” of diesel in the country, which was “not correct”.

The Oil Companies Advisory Council (OCAC) in a letter to the OGRA highlighted the issue of the shortage of diesel in the country.

The import plan should have been finalised by importers but as of today, there is a deficit in the import plan, the letter stated.

The OCAC said the October sales of “quite a few” oil marketing companies (OMCs) were “much higher than the anticipated demand”, adding that the OMCs have continuously had low stocks. “Some OMCs that were allowed imports in the previous month for use next month have already consumed the parcels in advance.

“Keeping in view the ongoing sales trend and the number of days [of] cover currently being maintained by the OMCs, we foresee product availability challenges,” it added.