NCMC confirms sufficient fuel stocks amid rising demand

Islamabad (Web Desk): The National Coordination and Management Council (NCMC) on Thursday assured that the country has enough petroleum reserves to comfortably meet the existing fuel demand, despite recent concerns over supply.

The council convened a meeting to evaluate the nationwide availability of petroleum products. 
Representatives of the Oil Companies Advisory Council (OCAC), the Federal Board of Revenue (FBR) Customs Wing, the Oil and Gas Regulatory Authority (OGRA), and other relevant stakeholders attended the meeting, according to a news release.

The participants reviewed the supply-related issues highlighted by the OCAC and explored ways to address the challenges affecting the fuel distribution chain.

The committee concluded that the concerns raised by the oil industry were largely driven by an unexpected surge in petroleum product sales recorded during the first two weeks of July.

OGRA also presented its analysis, indicating that the unusual increase in demand may have been influenced by hoarding activities triggered by expectations of a possible rise in fuel prices.

The NCMC stressed that OGRA should adopt a more effective enforcement approach to curb such practices and urged provincial administrations to take immediate steps to prevent hoarding while ensuring uninterrupted access to petroleum products for consumers across the country.

Reiterating that national fuel reserves remain sufficient, the council directed all concerned departments and stakeholders to work together to maintain a continuous and smooth supply of petroleum products throughout Pakistan.