KARACHI: Countrywide petrol sales are expected to remain brisk as the import of 390,000 tonnes of petrol in March will break February’s record of 355,000 tonnes.

In January, 320,922 tonnes of petrol were imported.

Petrol sales in February jumped to 451,888 tonnes from around 400,000 tonnes in January 2015.

Out of total imports of 355,000 tonnes in February, the share of Pakistan State Oil (PSO) was around 200,000 tonnes while the share of other oil marketing companies (OMCs) was 150,000 tonnes.

“As per planned imports, the March figure will be more impressive with a new record of 390,000 tonnes with expected sale of 460,000 tonnes,” Secretary General Oil Companies Advisory Council (OCAC) Aamir Butt told Dawn on Wednesday.

Decline in petrol price to Rs70.29 per litre from Rs107.97 per litre in August 2014 shifted consumers towards petrol from compressed natural gas (CNG) thus generating extra demand, he said.

Other reasons have been growth in sale of locally produced cars and three wheelers coupled with usage of petrol generators, he said.

Butt ruled out any petrol crisis in coming months as the federal petroleum ministry and the stakeholders (oil industry) had been managing supply chain through monthly product review meetings in order to ensure timely imports and availability of petrol to avert any shortage.

At present, the country has stocks of around 10 days of petrol, he claimed.

“As long as CNG crisis persists especially in Punjab, petrol will remain the most sought after fuel,” he said, adding that Punjab consumes 48-50 per cent of total country’s CNG production.

Local refineries were producing approximately 4,500 tonnes of petrol per day and the rest of demand was being met through higher imports, he said.

Pakistan had resumed exports of petroleum crude from last year and during July-Jan 2014-15 exports stood at 253,975 tonnes fetching $183 million.

“We cannot utilise local crude as it is a condensate coming out from natural gas fields and local refineries cannot consume or process the crude technically,” he said.

According to figures of Pakistan Bureau of Statistics (PBS), import of power generating machines went up by 20.4pc to $775m during July-Jan 2014-15 from $643m in same period last fiscal.

Car sales rose to 74,497 units in July-Jan 2014-15 from 64,834 units in corresponding period of last year.
Sale of Qingqi and Sazgar three wheelers jumped to 16,464 and 7,930 units from 13,327 and 7,405 units, figures of Pakistan Automotive Manufacturers Association (Pama) stated.

Published in Dawn, March 6th, 2015

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