Petrol situation improving as supply increased by 30 percent: Abbasi

Monday, 19 January 2015 22:20

Posted by Imaduddin

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ISLAMABAD: Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi Monday said petrol situation in the country had started improving with 30 per cent increase in its supply.
Addressing a press conference here at Press Information Department, he said shortage of petrol in some areas of Punjab and Khyber Pakhtunkhwa occurred due to its exceptional demand following substantial reduction in its price. Moreover, closure of CNG stations in some areas of Punjab also casued shortage of the commodity, he added.
He urged the people not to be panicked as the supply of petrol had been completely restored. The supply for Rawalpindi and Islamabad had been doubled and for Lahore increased by 100 per cent.
As a result of increased supply, he hoped, the shortage of petrol would be over during the current week.
He said the shortage of petrol had nothing to do with financial affairs. Rather the closure of CNG stations and reduction in petrol prices increased it demand.
The minister said that there would be further reduction in oil prices from first day of next month.
Replying to a question, he said a committee was investigating the causes of petrol shortage and it would submit its report to the Prime Minister on Tuesday.
He said Pakistan was the only country which significantly had reduced fuel prices to give relief to the masses.
"CNG supply has been restored in Lahore and Karachi to ease pressure over petrol stations," he said.
Minister of State Jam Kamal Khan was also present at the press conference.