Govt Warns Strict Action Against Oil Hoarding

Islamabad: The Government has assured the public that the country currently holds sufficient stocks of petroleum products to meet national demand and there is no need for panic buying or hoarding.

In view of the prevailing geopolitical situation, authorities are closely monitoring the petroleum supply chain to ensure uninterrupted availability of products across the country. The existing stock position remains comfortable and well within the prescribed requirements.

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It has been emphasized that strict action will be taken against any individual or entity found involved in illegal hoarding or storage of petroleum products at unauthorized locations, particularly at places other than duly licensed oil depots and retail outlets of Oil Marketing Companies (OMCs).

Reports have indicated that certain elements may attempt to hoard petroleum products for profiteering during such circumstances. To curb such practices, all Provincial Chief Secretaries have been requested to direct the Deputy Commissioners (DCs) to carry out inspections within their respective jurisdictions. Any premises found involved in illegal storage of petroleum products will be sealed and action will be taken in accordance with the law.

Meanwhile, teams of the Oil and Gas Regulatory Authority (OGRA) are actively monitoring the situation in the field. Inspections are being conducted at oil depots and retail outlets to ensure smooth supply of petroleum products and to prevent any malpractice.

The public is advised not to pay attention to rumors and to continue normal consumption patterns, as the petroleum supply situation in the country remains stable.