Pakistan: OMCs sales surge
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.5 million tonnes in July, up 23pc year-on-year and 20pc month-on-month, posting the highest YoY growth in the last 15 months.
The YoY increase was mainly attributable to reduced fuel smuggling amidst improved border controls and improving economic activity, Myesha Sohail of Topline Securities said.
Petrol sales increased 19pc YoY to 729,000 tonnes in July, up 19pc YoY and 12pc MoM. High-speed diesel (HSD) sales clocked in at 624,000 tonnes, up by 23pc YoY and 29pc MoM, respectively.
In July, petrol prices increased by 17pc YoY but were down 10pc MoM to an average of Rs315 per litre. Similarly, HSD prices averaged Rs343 per litre, representing a 23pc YoY rise but a 3pc MoM decrease.
She said OMCs’ sales are likely to grow by 8-10pc in FY27.
Reference Link:- https://www.dawn.com/news/2020470
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
