Pakistan is facing a serious fuel crisis amid the ongoing war in West Asia. Petroleum Minister Ali Malik said that the country does not have even one day’s strategic petroleum reserves. In an interview given to Pakistan’s Sama TV, Malik mentioned the serious crisis prevailing in Pakistan and compared the situation with India and said that the country has only 5 to 7 days of commercial crude oil reserves.

What did Malik say about India?
Malik said, “We do not have any strategic oil reserves. We have only commercial reserves. We have enough crude oil for 5-7 days and the product with OMCs can last only for 20-21 days. We are not like India, which has 60-70 days of reserves and which they can release with just one sign.”

Malik said that Pakistan has done adequate research on this subject. An independent consultant has given a detailed report on how Pakistan can manage its strategic stockpiles. The minister said that no action has been taken so far on the report due to the huge costs of operating these oil reserves, which could reach millions of dollars.

Malik told the situation of Pakistan
Malik also pointed out that historically crude oil prices in Dubai have never reached $170, which reflects the extreme volatility in global markets. He said that the Shehbaz Sharif government is trying to reduce the hardships of the people and efforts are being made to provide subsidies as far as possible. He further said that the Pakistani government is keeping a close watch on the situation to ensure the availability of petrol despite global uncertainty due to the Iran-US conflict.

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Total capacity of India’s SPR is 53 lakh metric tons.
The total capacity of India’s strategic petroleum reserves (SPR) is 53 lakh metric tonnes (MMT), which is equivalent to approximately 3692 crore barrels. In contrast, Pakistan does not have strategic petroleum reserves and has only limited commercial reserves. Islamabad has announced a plan to keep reserves of up to 90 days in view of the risks posed in the Strait of Hormuz.

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