Nationwide petroleum crisis, dealers demand transparent inquiry Delayed petro imports shaped crisis, Govt lost billions in revenue Masses deprived of the benefit of reduced petroleum prices New pricing formula needed in the changed scenario: Ghiyas Paracha | CustomNews.pk

Nationwide petroleum crisis, dealers demand transparent inquiry Delayed petro imports shaped crisis, Govt lost billions in revenue Masses deprived of the benefit of reduced petroleum prices New pricing formula needed in the changed scenario: Ghiyas Paracha

The All Pakistan Petroleum Retailers Association has demanded a detailed probe into nationwide fuel shortage and asked the authorities to fix the responsibility. All the oil companies except PSO delayed import of petroleum products and violated the rules regarding maintaining the fuel stock which has resulted in the scarcity of petrol, diesel, and other products across the country, it said. This was observed in a Zoom web meeting in which leaders of the All Pakistan Petroleum Retailers Association from all four provinces participated. Speaking at the occasion, Ghiyas Abdullah Paracha said that unnecessary delay in the import of petroleum products has inflicted a loss of billions of rupees to the government in revenue while masses were deprived of the benefit of reduced prices. He said that presently oil marketing companies have stopped supply to the petrol pumps while some filling stations are getting reduced supplies which are not enough to satisfy the demand of consumers resulting in serious problems. Ghiyas Paracha said that the shortage of petroleum products can hit the transport sector and lead to increased fares of public transport, therefore petroleum products should be imported immediately which companies should be made to abide by the rules and regulations regarding keeping stock of petrol and diesel to meet any emergency. Petroleum dealers have already suffered a lot during the lockdown and now a scarcity of fuel is hitting their businesses, he said, adding that the issues of owners of filling stations should be resolved and a new pricing formula for refineries, oil marketing companies and dealers should be introduced. He said that the oil and gas sector needs a new pricing formula according to the changed local and global situation amid pandemic as the old formula is no longer workable. The meeting also prayed for early recovery of those affected by the infection including the president of the association Samir Gulzar and offered condolence to the families who have lost their loved ones.
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