Pakistan's oil industry is reportedly in serious trouble in arranging crude oil and petroleum products owing to foreign exchange constraints and prevailing product pricing, particularly following the recent currency depreciation and increase in the central banks policy rate, media reports said.
Reporting these challenges to the government, the Oil Companies Advisory Council (OCAC), an association of more than three-dozen major oil marketing companies (OMCs) and refineries has warned of a major disruption to the already fragile supply chain, Dawn reported.
In a communication to the ministers for finance and energy, the Governor of the State Bank of Pakistan (SBP) and the Chairman of the Oil and Gas Regulatory Authority (Ogra), the association has sought an urgent engagement to address the "severe impact of the recent depreciation of the rupee".
Bu hikaye The Statesman dergisinin March 09, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Statesman dergisinin March 09, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Why is PM Modi not going to Manipur?
Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav on Monday questioned Prime Minister Narendra Modi's absence from Manipur, asking why he hasn't Visited the state amidst the ongoing Violence.
Biden authorizes Ukraine to strike Russia with US missiles
Russia also launched a massive drone and missile attack
Travis Head backs Rohit Sharma's decision to skip opening BGT Test
Australia batter Travis Head has extended his support to Rohit Sharma's decision to skip the opening Test of the Border-Gavaskar Trophy to be with his wife following the birth of their second child.
Indian top-order set for rejig with Rohit, Shubman set to miss first Test
Team India face top order headache with skipper Rohit and opener Gill missing Perth Test
Australia overpower Pakistan in Hobart contest, sweep T20I series 3-0
All-rounder Marcus Stoinis' marvellous fifty helped Australia to clean-sweep Pakistan in the three-match T20I series on Monday.
IOA pledges support to KKFI to host inaugural Kho Kho World Cup
India is set to host the inaugural Kho Kho World Cup at the IGI Stadium here from 13 to 19 January, marking a landmark moment in the world of traditional sports.
Champions Trophy 2025: PCB chief expresses willingness to talk to BCCI to break deadlock
Reiterating its stance of not using a hybrid model for the upcoming 2025 ICC Champions Trophy, Pakistan Cricket Board (PCB) president Mohsin Naqvi on Monday said he still retained \"positive expectations\" about the tournament, and added that he is willing to speak to the BCCI to break the deadlock that arose after the Indian board refused to send its team to Pakistan, citing security concerns.
Blow for Arsenal as Trossard gets injured on national duty
Arsenal manager Mikel Arteta faces yet another selection headache as Leandro Trossard was forced off with an apparent injury during Belgium's Nations League clash against Israel.
Jannik Sinner defeats Taylor Fritz to win ATP Finals, reaches historic landmark to end superb season on memorable note
Jannik Sinner made history in the ATP Finals by becoming the first Italian champion in the tournament's 55-year history following his comprehensive victory over Taylor Fritz.
ISL: U nperturbed bypressure,Ayush Chikkam eyes main role for Mumbai City
Mumbai City FC, the defending champions of the Indian Super League (ISL) Cup, are known for nurturing and bringing in young talent through their ranks.
