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.