Tariq Wazir Ali, Chairman of the Oil Marketing Association, has sent a letter to Prime Minister Shehbaz Sharif, warning that the country’s petroleum industry is nearing collapse. He highlighted the severe impact of Rs. 26 billion in foreign exchange losses on the industry, urging immediate intervention.
Ali noted that the petroleum sector is already struggling with numerous challenges. Despite recognizing the flaws in the foreign exchange system, the Ministry of Petroleum has not resolved the issue.
In April, the Director General of Oil organized a meeting to draft recommendations, which were forwarded to the Oil and Gas Regulatory Authority (OGRA). However, the issue remains unresolved at the Prime Minister’s office, leading to further delays.
Ali criticized the Ministry of Petroleum’s delaying tactics and stressed that these are driving the industry towards disaster. He called on Prime Minister Shehbaz Sharif to address the problem urgently to prevent the industry’s collapse.
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