PM directs strict action against smuggling, hoarding of petroleum products

ISLAMABAD:  Prime Minister Shehbaz Sharif on Tuesday instructed that stringent measures should be taken against the smuggling and “illegal hoarding” of petroleum products, a statement issued by his office said.

The statement was released by the Prime Minister’s Office (PMO) after the premier chaired a meeting in Islamabad with a focus on the petroleum products’ supply chain and austerity measures that were announced in view of the ongoing Middle East conflict.

The conflict began with the US and Israel launching attacks on Iran on February 28. The world has faced a fuel crisis since, primarily resulting from the disruption of traffic in the Strait of Hormuz — a corridor that had been the route for 20 per cent of global liquified natural gas and a quarter of seaborne oil until the war began.

In view of the situation, the government announced unprecedented austerity measures on March 9 and initially also hiked petrol and diesel prices by Rs55 per litre. But, according to PM Shehbaz, he has rejected proposals for a further hike in the prices of two oil products thrice since then.

The meeting that he chaired on Tuesday reviewed measures to provide relief to low-income groups in the present situation, the PMO statement said.

“The prime minister directed the relevant ministries to consult provinces on the matter and then present final recommendations,” it said, adding that he also issued instructions for strict action against the smuggling and “illegal hoarding” of petroleum products.

It quoted PM Shehbaz as saying: “The federal government has taken significant steps over the past three weeks to provide relief to low-income groups, and it will continue to take such measures in the future as well.”

He said the federal government had managed to provide a relief of Rs129 billion to the common man by making cuts in the development budget and implementing austerity measures.

“Sufficient stocks of petroleum products are available to meet the country’s requirements due to the federal government’s timely decisions,” he added.

“Providing relief to the people is our top priority,” he asserted.

The PMO statement said the meeting was also briefed on the progress of the implementation of austerity measures and was told that the petroleum products’ supply, demand and the supply chain were being regularly monitored through a digital dashboard. Several federal ministers and officials attended the meeting, the statement said. Staff Report