OCAC warning on Oil crisis in Pakistan. The Oil Company Advisory Council warned the government against the oil crisis in the country by writing a letter.
According to the News channel, a fear of the oil crisis in the country developed in the country once again.
For this persistence, the council has written a letter to the federal government and stated a fear of an oil crisis in the country due to the non-opening of LCs on time.
The OCAC advised the federal finance minister and the petroleum minister to play their essential role in opening the LCs timely.
The council in its letter to the government also revealed that some oil cargoes previously canceled due to the non-opening of LCs from the banks.
The OCAC letter also warned the government that the non-opening of LCs initiated disturbance in the oil supply in the country, adding that once the supply chain affected, recovery will take 6 to 8 weeks.
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OCAC warning on Oil crisis in Pakistan. It worth declaring that for the import of oil worth US$1.30, the country need 4,30,000 metric tons of petrol and 2,00,000 metric tons of diesel imported into the country every month.