Pakistan Faces Worst Petrol and furnace oil shortage

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petrol shortage in PakistanAll over the country there are long queues of vehicles waiting to be refilled. Petrol is available but it is in low quantities. Way lower than the demand, all the petrol stations are being provided with much lower than routine quantity of petrol.

The reason for petrol shortage is, PSO’s circular debt have increased to 200 billion Rupees and they does not have enough funds to buy petrol from refineries. Government also have done less in helping PSO (Pakistan State Oil) decreasing its circular debt.

Punjab being most densely populated province of country is hit worse by the fuel shortage. Very long queues are seen on fuel-less fuel stations, as of today, the most fuel stations are no more able to provide fuel and remained close. Petrol shortage is affecting people in worst way and specially in big cities it have disturbed the mobility in a very bad way.

PSO have asked government to release about 72 Billion Rupees to ease the debt and make the PSO able to purchase fuel. PSO is government owned distributor and retailor of petroleum products in Pakistan, however, government of Pakistan itself have huge outstanding dues, which are not payed.

The power sector also owes money to PSO, so PSO for now have stopped the fuel supply to power sector as for now. This have resulted in load shedding of over 14 hours per day in all major cities of Pakistan.

Hope the PML-N (Pakistan Muslim League – Nawaz) led government controls the situation soon enough. The current PML-N led government claims that they have put Pakistan on way of economic progress but in reality they have not been able solve the very basic problems of Pakistan. Few of them are Shortage of Power, Gas and now Petroleum products.

Hope situation gets better soon, do share your opinion in comments section below. Do Like us on Facebook and follow on twitter, all from right side of this page, to stay updated with the latest from Pakistan.

Prices of petrol and High Speed Diesel increased heavily by Government of Pakistan

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Recently Pakistan Muslim League – Nawaz (PML-N) which is in government right now, seems to be punishing people for giving them heavy mandate. They have recently increased the prices of Electricity very much heavily along with price hike in petroleum prices.

petrol prices hike pakistan

Price of petrol have been increased by Rs. 4.12, which would now set new per liter price at Rs 113.25 from the previous Rs. 109.13. Similarly price of high speed diesel have been increased from Rs. 112.26 to 116.95 with increase of whooping Rs. 4.69 per liter. Price of High Octane Blending Component (HOBC) have also been increased by Rs. 5.57 to 143.90 per liter.

Not only this, the price of kerosene oil have been also increased, this is usually used in rural areas of Pakistan to cook food and keep warm. People of rural areas does not have other options and this oil is already expensive for them but government have hit them as well with increase of Rs 2.81 setting up new price above Rs. 100 mark which exactly is now 101.24.

Higher fuel prices directly impact people of Pakistan. As fuel prices hike directly increase the transportation costs of everything which in turn increases the cost of living. In country like Pakistan where major population group is in low income or even below poverty lines, these higher petroleum prices are not good at all. Government is even earning from these prices as its imposing petroleum levy (a tax) on all products from Rs. 6 to Rs. 17 per liter. On top of this levy government is also imposing 17% sales tax on each liter of all petroleum prices.

If PML-N led government want, they could bring down the prices of all petroleum products by at least Rs. 23 and above by just removing the extra taxes.

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CNG price reduced by 31 Rupees in Pakistan on Supreme Court order

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Supreme court ordered that CNG price must be reduced by 30 rupees and 90 paisas. Oil and Gas Regulatory Authority (OGRA) have already followed the Supreme court orders and already issued the notification to reduce the CNG price by 30 rupees and 90 paisas. Also due to Eid-Al-Adha their would be no CNG Load Shedding in Islamabad Region.

After reduction of 30 rupees and 90 paisas new price of CNG is set to 61 rupees and 64 paisas. Previously the CNG was being sold at Rs. 92.54 where as per kilogram cost of CNG was less than half of the previous listed price.

Hilarious decrease in price of CNG

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As recently Oil and Gas Regulatory Authority (OGRA) had increased the price of CNG by Rs. 8 on December 30th 2011.  That triggered the strike from the CNG association as well as from the pubic transport unions. One other reason was closure of CNG for more than half a week each week so public transporters were not being able to get tanks filled.

Yesterday after success of the dialog between CNG Association/Transporters and OGRA, OGRA with other measures taken also had told transporters/CNG Association that they will decrease the price soon.

Today this hilarious decision came from OGRA, which is that price of CNG have been decreased 36 Paisas.  As just few days back the price was increased by 8 Rs, decrease of 36 Paisas is only  4,5% of recent increase and is less than 0.5 percent of price of CNG.

This price decrease of 0.36 Paisas is like current government is kidding their people by putting OGRA in front. Also no justification was given about why per KG price is increased by 8 Rs and why its decreased by only 4.5 Paisas.

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