The Senate Standing Committee on Petroleum Thursday expressed apprehension that in the near future the country will face a severe diesel crisis and advised that the government should take timely measures to prevent any such crisis.
The meeting of the Senate Standing Committee on Petroleum was held under the chairmanship of Senator Abdul Qadir at the Parliament House.
The committee was informed that stock of 26 days is currently available and stock for the next month is also secured. The committee chairman lamented the fact that Pak-Arab Refinery and Attock Refinery do not supply diesel and all the onus is on Pakistan State Oil (PSO) for the supply of diesel. The committee chairman recommended sharing the burden of PSO for the supply of diesel and taking practical steps to resolve the shortage of high-speed diesel (HSD) as the harvesting season is fast approaching.
The ministry officials apprised the committee that in order to avert any shortage in the market, confidence needs to be given to Oil Marketing Companies (OMCs) that the price differential will be promptly paid.
The committee received a comprehensive briefing from the Ministry of Energy (Petroleum Division) on the government’s strategy and plans to handle the oil import and prices in the current scenario of the Russia-Ukraine Conflict.
The committee also discussed the government’s plan to reduce and pay off the circular debt in the gas sector at length. The ministry lamented that the companies are a victim of the government’s policy of subsidizing gas.
The committee was briefed that the new laws have been enacted, empowering the Oil and Gas Regulatory Authority (OGRA) to notify the sale price already determined if the government does not give timely advice on the prices within a period of 40 days.
