Refinery shut down for immediate repairs, PARCO Administration: Photo: File
Islamabad: Production at the country’s largest oil refinery has been suspended due to the economic crisis and an influx of smuggled products.
According to petroleum industry sources, Pakistan’s largest oil refinery Parco has been shut down. PARCO management says the refinery has been shut down due to the urgent need for repairs.
According to the sources, the main reason behind the closure of the refinery is the decrease in the consumption of diesel and petrol products produced in the country. Pakistan’s oil refineries are also facing difficulties in running operations due to the current financial crisis.
All the refineries, including Parko, had informed the authorities about the problems, while the Federal Minister of State also visited Parko yesterday.
Refineries are facing issues like recovery of exchange rate, artificial control on oil price and difficulties in opening LCs for crude oil imports.
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