Karachi: The supplies of the oil products to petrol pumps will likely to get hurt in the coming weeks throughout the country if the government does not transfer funds to cash-starving Pakistan State Oil (PSO) which failed to pay off its dues to international oil dealers recently.
Sources in the Ministry of Petroleum and Natural Resources (MNPR) said that the government is arranging Rs 20 billion on war footing from different sources including ministry of finance, public sector entities and power sector to restore the supplies of petroleum products to PSO.
The week is very crucial for PSO and country’s energy sector because the discontinuation of supplies lines means stoppage of cycle of economy in the country, he said. The power sector will be hurt and transportation and communication system will be paralyzed.
At present the stock of petroleum product is available for 10 days however this needs to refill on every week to maintain the availability of supplies of petroleum products on demands to the retail outlets and all commercial units.
The stock is depleting fast towards end despite of different companies are operating in the country including Shell Pakistan and Caltex hence the government should move urgently and address the crisis in embryo.
PSO defaulted payment of Rs 16 billion yesterday. It is owed Rs 100 billion from private and public sector on the sale of different petroleum products.
The government is likely to steer the situation with immediate action however the discontinuation of supplies have affected deals with petroleum companies outsides along with banks that issues LCs for the oil marketing company.