Minister of State for Petroleum Dr Musadik Malik on Wednesday warned the elements involved in hoarding petroleum products and creating artificial fuel shortage of ‘dire consequences.’ “Sufficient useable stocks of petroleum products are available in the country to meet needs of petrol (363,085 metric ton) for 20 days and diesel (515,687 Metric Ton) for 29 days. These are the other than cargoes arriving and waiting in the sea for berthing,” he said while addressing a news conference in the federal capital. The comments come as a number of petrol pumps in several major and small cities of Punjab have been facing a severe shortage of petrol. The situation is particularly troubling in some major cities, including Lahore, Gujranwala and Faisalabad, where several petrol pumps have either no or a meagre supply of petrol for the last many days allegedly due to squeezed supply from oil marketing companies (OMCs). The minister was of the view that a few people were involved in creating artificial shortage by dumping petrol and diesel with the hope to sell them in future at exorbitant rate. He said the government would ensure the state writ at every cost and hinted licenses of the people (OMCs), who would be found involved in such illegal activities would be revoked. “I request to those hoarding petroleum products to shun this practice and do not challenge writ of the state.” Musadik Malik said prices of petroleum products were revised by the government as per the scheduled time, international market and rupee-dollar parity. Answering a question, the minister said during the ongoing winter season, the incumbent government, under the dynamic leadership of Prime Minister Shehbaz Sharif, ensured better gas management which resulted in better supply to consumers, especially domestic sector as compared to the last 10 years. Replying to another question, he said an agreement with Russia would hopefully be finalised following which low-cost crude oil will start arriving in Pakistan. Meanwhile, Musadik Malik said while talking to a private news channel that there was no shortage of petroleum products in the country and also there will be no change in the price till February 15. He said that petrol pump owners are deliberately spreading rumours of shortage and strict action is being taken against such dealers and owners. Replying to a question about the letter of credit, he said that LCs are open for petrol, and no closure has been imposed, adding that there is ample stock of petrol and diesel in the country. About the petroleum price hike, the minister said that he will review the price on February 15 and there will be no change in the price before that.