OCAC warns govt against oil crisis in Pakistan

By: News Desk
Published: 04:17 PM, 15 Jan, 2023
OCAC warns govt against oil crisis in Pakistan
Stay tuned with 24 News HD Android App
Get it on Google Play

The Oil Company Advisory Council (OCAC) warned the government against the oil crisis in the country by writing a letter on Sunday.

According to the 24News HD TV channel, a fear of the oil crisis in the country is being evolved in the country once again.

For this purpose, the council has written a letter to the federal government and expressed a fear of an oil crisis in the country due to the non-opening of LCs on time.

The OCAC urged the federal finance minister and the petroleum minister to play their important role in opening the LCs timely.

The council in its letter to the government also disclosed that some oil cargoes have already been canceled due to the non-opening of LCs from the banks.

The OCAC letter also warned the government that the non-opening of LCs is causing disruption in the oil supply in the country, adding that once the supply chain is affected, recovery will take 6 to 8 weeks.

It is worth mentioning that the import of oil worth US$1.30 is the country's need as 4,30,000 metric tons of petrol and 2,00,000 metric tons of diesel are imported into the country every month.

Reporter: Awais Kiyani

Categories : Business, Latest