PSO overcomes fuel shortage in Punjab

[Edevelop]

KARACHI – Pakistan State Oil (PSO) has successfully managed to overcome the fuel shortage in some parts of the Punjab.


A PSO statement here on Tuesday said that in order to do so, the company increased its import of white oil products (petrol) and enhanced supplies from local refineries. One vessel carrying 50,000 MTs of petrol arrived here on January 16 and the bulk of it was dispatched to Punjab to recoupe the shortage in the region. Two other oil tankers carrying 50,000 MTs each of petrol are expected to arrive on January 25 and 29 respectively. Another four vessels of 50,000 MTs each are expected in February, it said.


PSO has also purchased an additional 10,000 MTs of petrol from the vessel imported by Shell Pakistan which arrived here on Tuesday. The arrival of these vessels will help build the company's petrol stocks and ensure normalisation of supplies nationwide. With a share of approximately 46 per cent of the total MOGAS market, PSO is living up to its commitment to fulfill the needs of its customers. It is pertinent to mention here that the other 13 oil marketing companies operating in Pakistan holding 54 per cent of the markets also need to play their role in meeting market demands, the PSO statement added.

PSO overcomes fuel shortage in Punjab

 

[ziaulislam]

wow what an achievement, excellent performance by PML N govt..this was such a difficult job

 

[Faiez]

had the oil industry been privatized such a thing would never have happened...

Governments are always inefficient. They can't manage anything as they have no incentive in being more efficient, they make no profit for themselves for being more efficient. In this example, a state run company failed to run a simple logistics operation (just had to import oil equal to oil demand) that any private company in the world could have done without a problem.

 

[SBD-3]

had the oil industry been privatized such a thing would never have happened...

Governments are always inefficient. They can't manage anything as they have no incentive in being more efficient, they make no profit for themselves for being more efficient. In this example, a state run company failed to run a simple logistics operation (just had to import oil equal to oil demand) that any private company in the world could have done without a problem.

Except from PSO the major players in OMC are all private ones (Total,Shell,Byco,Hascol,Caltex). They all saved their inventory losses by stocking out.

 

[IceCold]

Its hardly over come but yes today the situation was a little better in Lahore. There were still long ques of cars waiting while the situation for bikers was a bit better. I myself was able to get few litres of petrol today.

 

[Faiez]

Except from PSO the major players in OMC are all private ones (Total,Shell,Byco,Hascol,Caltex). They all saved their inventory losses by stocking out.

okay...that makes sense. But isn't that because price is gov. regulated ? They shouldn't have lowered the prices, rather let the price float freely, let the oil market trade freely. Mismanagement by price controlling authorities then.