Pakistan minister warns petroleum suppliers against hoarding fuel, creating artificial shortage

Islamabad: Pakistan’s Minister of State for Petroleum Musadik Malik on Wednesday warned petroleum suppliers in the country against holding up supplies to create any kind of artificial shortage.Speaking to reporters, Malik said that the government would act hard on people who try to hoard petroleum despite strict directions by the authorities.“Some people are always hoarding--You won’t be able to hoard and rob the people’s right. This is our resolve and you will have to bear very strict consequences if you persist. We will cancel your licences,” he said.Malik said that only a few owners of filling stations were involved in hoarding and creating an artificial shortage with the aim of selling fuel in the future at high prices.He said that the government would come down hard on such people and he warned that no one should try to challenge the writ of the state.“Sufficient usable stocks of petroleum products are available in the country to meet petrol needs for 20 days and diesel for 29 days. This excludes cargoes arriving and waiting in the sea for berthing,” he said.He said there was no plan to revise the prices of petroleum. He also hoped that low-cost crude oil from Russia would start arriving after an agreement is made with the country.The Pakistan government adjusts the price on a fortnightly basis and is expected to increase the prices on February 15 due to depreciation in the rupee.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.