In a bid to reduce expenses and a fall in demand, the Government of Pakistan has imposed a ban on oil imports effective 1st April, 2020, according to media reports.
It is pertinent to point out that the ban will not impact the supply of petroleum products which will continue as routine across all petrol pumps in the country.
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The government has taken this decision keeping in mind that due to the coronavirus outbreak, restriction on movement has led to less traffic and public transport coupled with factories shutting down. These are two of the biggest consumers of fuel in the country.
As the demand is expected to fall, the government has decided not to import crude oil.
For now, the local oil refiners have enough petroleum products in storage to meet the demand of the country.
