OCAC Confirms Ample Availability of Fuel Supplies in the Country

OCAC Confirms Ample Availability of Fuel Supplies in the Country-2022

The Oil Companies Advisory Council (OCAC) reported that ample stocks of Motor Spirit (MS) and High-Speed Diesel (HSD) are available in the country as a result of refineries’ support in providing locally produced fuel products, as well as OMCs’ timely planning of imports and meeting volume commitments despite limited product availability in the international market due to geopolitical tension.

Since HSD sales in the country have skyrocketed due to the harvesting season, OCAC is actively participating in effectively managing the surged demand in collaboration with the industry, OGRA (Regulator), and the Ministry of Energy (Petroleum Division).

Concerning the details for the country’s uninterrupted fuel supply, cargoes carrying sufficient HSD volumes are already waiting for off-port and will be discharged in their turn, while other planned cargoes are expected to arrive soon. Similarly, Motor Gasoline reserves are sufficient to meet the country’s demand, with additional volumes coming in via planned imports.

Dr Nazir Abbas Zaidi, Secretary-General of OCAC, added, “Pakistan is an energy-deficient country, so the deficit in fuel supplies is met through imports.” As a result of ever-increasing import volumes and infrastructure constraints, there are challenges at ports due to vessel congestion/bunching, etc. However, in collaboration with OGRA, OCAC is effectively addressing these challenges by making recommendations to ensure that fuel supplies remain streamlined. As a result, it is critical to avoid uncertainty and abnormal buying patterns in the midst of ambiguous speculations.”
OCAC also reiterates that there is ample inventory of fuel supplies in the country, including cargoes waiting for off-port and other vessels lined up to arrive soon; as a result, citizens are urged to purchase fuel products on a regular basis rather than allowing ambiguity to translate into desperate bulk purchasing.

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