OGRA denies reports of petrol shortage in Pakistan

On Tuesday, the Oil and Gas Regulatory Authority (OGRA) vehemently denied rumours of a shortage of petrol and diesel throughout the nation, asserting that there is sufficient supply.

Imran Ghaznavi, spokesman for OGRA, claims that the nation has sufficient reserves to cover the demand for petrol for 17 days and diesel for 32 days.

According to Ghaznavi, ships carrying 100,000 metric tonnes of petrol are stranded at the port, and local refineries are actively contributing to supplying the demand for petroleum goods.

Prior to this, the Petroleum Division issued a warning to the central bank that the lack of letters of credit (LCs) for imports could cause the supply of petroleum products to run out.

Like other sectors, the oil industry in Pakistan is facing hurdles to opening LCs owing to the US dollar shortage and restrictions put in place by the State Bank of Pakistan (SBP).