Minister of State for Petroleum Dr Musadik Malik Wednesday warned the elements involved in hoarding petroleum products and creating artificial fuel shortage of ‘dire consequences.’

“Sufficient useable stocks of petroleum products are available in the country to meet needs of petrol [363,085 Metric Ton] for 20 days and diesel [515,687 Metric Ton] for 29 days. These are the other than cargoes arriving and waiting in the sea for berthing,” he said while addressing a news conference.

The minister was of the view that a few people were involved in creating artificial shortage by dumping petrol and diesel with the hope to sell them in future at exorbitant rate.

He said the government would ensure the state writ at every cost and hinted licenses of the people (Oil Marketing Companies), who would be found involved in such illegal activities would be revoked.

“I request to those hoarding petroleum products to shun this practice and do not challenge writ of the state.”

Musadik said prices of petroleum products were revised by the government as per the scheduled time, international market and rupee-dollar parity.

Answering a question, the minister said during the ongoing winter season, the incumbent government ensured better gas management which resulted in better supply to consumers, especially domestic sector as compared to the last 10 years.

Replying to another question, he said an agreement with Russia would hopefully be finalized following which low-cost crude oil will start arriving in Pakistan.