As demand rises and parts of the country run out of high octane blending component (HOBC), oil marketing companies (OMCs) have turned to the Ministry of Petroleum to seek fuel imports to tackle shortage.
Motorists across the country are complaining that oil stations have run dry despite growing demand. Officials state that HOBC sales have soared by 250% compared to the previous year, and that that is basically because of declining prices. However, a shortage of supply has arisen because Parco, the only HOBC producing refinery in the country not have the production capacity. This, in turn, means that imports have become a necessity.
OMCs had reportedly requested the import of 1,430 tons to bridge the defecit a month earlier but the director general oil of the Ministry of Petroleum had rejected it, claiming it an amount too small to be justifiable, and had suggested instead allocation of HOBC keeping in view average sales of the last three months.
In the face of rising demand and profit potential, OMCs were willing to import the fuel to address the shortage. However, the Ministry of Petroleum has directed them to write a letter to Ogra, seeking permission for HOBC import and its pricing mechanism.
According to local media reports however, Petroleum Minister Shahid Khaqan Abbasi said OMCs did not need to get any permission for oil import and Ogra had no role in bringing oil supplies from abroad.
