The petroleum cargoes were stranded at the Karachi port, demanding a 100% bank guarantee under the Sindh Infrastructure Development Cess (IDC). Due to this situation, the nationwide fuel shortage was predicted, which might lead to disruptions in transportation, agriculture, and other sectors. But there’s no need to worry anymore! The situation is all under control now. Continue reading the blog to know more.
OGRA Announces No Fuel Shortage in the Country
The Oil and Gas Regulatory Authority (OGRA) denies the fuel shortage reports in Pakistan. The authority assures a normal flow of fuel tanker imports.
Five major shipments of fuel were struck at the port, including PSO, Parco, PGL, etc., out of which two were already cleared to pass. Hence, the situation is normalized, and there is no fuel shortage in the country.
The Sindh government applies a 1.8% tax on the import of petroleum under the Sindh Infrastructure Development Cess (IDC). This adds up to the Rs. 3 per litre fuel cost, which might make the prices higher. The Oil Companies Advisory Council (OCAC) is urging the authorities to immediately clear all the petroleum cargoes without bank guarantees.
Final Verdict
To sum up, the fuel shortage reports in the country have been denied by the OGRA. The Sindh government has allowed the two cargoes to enter, which means the situation has been normalized and leads to no fuel shortage.
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