OCAC warns of looming fuel shortage
Business
OCAC warns of looming fuel shortage
KARACHI (Dunya News) – With the banks refusing to establish letters of credit for the oil marketing companies, the Oil Companies Advisory Council (OCAC) on Friday warned of looming fuel shortage in the country.
The delay in settlement of credit letters for the import of Mogas could disrupt its supply chain in the country.
The OCAC has written a letter to the Finance Ministry warning that if the credit letters are not established on time, the import of petroleum products will be severely affected, which may lead to fuel shortage in the country.
The OCAC also warned that it would take 8 weeks to restore the supply in case of fuel shortage.
