ISLAMABAD/RAWALPINDI, June 07(ABC): Long queues have lined up outside petrol pumps in twin cities — Islamabad and Rawalpindi — after oil marketing companies (OMCs) stopped the supply of the essential commodity.
A representative of the petrol pump association told that the supply has been stopped and tankers have lined up outside oil depots for refilling.
The official asked the OMCs to restart the supply of petroleum products as if the reserves of the petrol pumps run out, then businesses will be severely affected.
“We are in talks with oil supply companies regarding the matter,” he added.
Meanwhile, Chairman Pakistan Petroleum Dealers Association (PPDA) Abdul Sami Khan told Geo.tv that the reserves of the pumps are running shortly after Finance Minister Miftah Ismail announced another probable hike in petrol prices.
He maintained that the supply to the petrol pumps had not stopped yet, but due to the rush at the filling stations, their reserves might be exhausted soon.
Earlier in the day, the finance minister said the price of petroleum products would increase further in the country after a massive hike of Rs60 in the last 10 days.
In his address to the one-day long pre-budget business conference, Ismail said that had the government taken decisions in line with ex-prime minister Imran Khan and former finance minister Shaukat Tarin’s deal with the International Monetary Fund (IMF), the price of petrol would have stood at Rs300 per litre.
Moreover, the government cannot just stop at ending subsidies as it has to impose taxes on petroleum products.
“The IMF has asked for 100% withdrawal of subsidy on POL products. Once the subsidy is over, then the government will have to impose taxes and petroleum levy,” the publication reported, adding that there is still a subsidy of Rs9.32 per litre on petrol and Rs23.05 per litre on diesel.
