{"id":311049,"date":"2023-02-01T08:48:58","date_gmt":"2023-02-01T03:48:58","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=311049"},"modified":"2023-02-01T08:48:58","modified_gmt":"2023-02-01T03:48:58","slug":"pakistan-may-face-fuel-shortage-in-mid-february","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistan-may-face-fuel-shortage-in-mid-february\/","title":{"rendered":"Pakistan may face fuel shortage in mid February"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nPakistan could face a fuel shortage in at second fortnight of February, Reuters news agency reported Tuesday citing sources from industry and commerce.<br \/>\n\u201cThere is no shortage this fortnight. If we don\u2019t have LCs (letters of credit) open right now, we might see shortages in the next fortnight,\u201d Reuters quoted a senior official at one of the oil companies as saying.<br \/>\nAccording to the news agency, the crisis is expected to take place as banks have stopped issuing LCs (Letter of Credit) to facilitate oil import. The main reason however, is country\u2019s depleting foreign exchange reserves.<br \/>\nA week ago, the Oil and Gas Regulatory Authority (OGRA) had rubbished reports of any expected fuel shortage in country. \u201cOgra strongly rebuts the speculations on petrol\/diesel shortages,\u201d OGRA spokesperson Imran Ghaznavi had said in a press release.<br \/>\n\u201cFurthermore, ships carrying 101,000 metric tonnes petrol are at berth\/outer anchorage,\u201d the press release added. \u201cThe local refineries are playing their due role in meeting the demand for petroleum products.\u201d<br \/>\nIt is pertinent to mention here that an International Monetary Fund (IMF) team is in Islamabad currently, deliberating completion of the ninth review of the Extended Fund Facility (EFF) program.<br \/>\nIn the discussions continuing from Tuesday to Friday, the two sides will exchange information during technical phase of negotiations.<br \/>\nReuters reported Tuesday that delays in the opening of LCs could \u201clead to a fuel shortage in the country\u201d, according to the Oil Companies Advisory Council (OCAC).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD Pakistan could face a fuel shortage in at second fortnight of February, Reuters news agency reported Tuesday citing sources from industry and commerce. \u201cThere is no shortage this fortnight. If we don\u2019t have LCs (letters of credit) open right now, we might see shortages in the next fortnight,\u201d Reuters quoted a senior official at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":222869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-311049","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan may face fuel shortage in mid February<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-may-face-fuel-shortage-in-mid-february\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan may face fuel shortage in mid February\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD Pakistan could face a fuel shortage in at second fortnight of February, Reuters news agency reported Tuesday citing sources from industry and commerce. \u201cThere is no shortage this fortnight. If we don\u2019t have LCs (letters of credit) open right now, we might see shortages in the next fortnight,\u201d Reuters quoted a senior official at [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-may-face-fuel-shortage-in-mid-february\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-01T03:48:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2021\/10\/Petrol-Petroleum.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"915\" \/>\n\t<meta property=\"og:image:height\" content=\"701\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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