Pakistan Oil Companies Demand Rs66 Billion in Dues Amid Liquidity Woes

Pakistan's oil marketing companies are facing a liquidity crunch due to outstanding claims amounting to Rs66.7 billion, which they claim is equivalent to the value of five imported petrol cargoes.

The Oil Companies Advisory Council (OCAC) has demanded immediate verification and audit of these claims, as well as their release without further delay. They have also pointed out that some approved premium differential claims related to petrol imports are still awaiting payment.

The industry argues that keeping these funds locked up is putting additional pressure on the cash required to finance imports, maintain inventories, and keep fuel moving across the country.

Oil marketing companies are also seeking an increase in their margins by Rs1.22 per litre, which has been approved by the Economic Coordination Committee but not implemented yet.