Govt assures 78 days of oil amid MPs' concerns

New Delhi: Concerns over fuel availability, shipping disruptions and fertilizer supplies dominated a Parliamentary panel meeting on Monday, with MPs questioning officials over reports of long queues and rationing at petrol pumps. Officials maintained that India has adequate reserves, with crude stocks sufficient for 78 days.Officials informed the Parliamentary Standing Committee on Transport, Tourism and Culture that 37 Indian ships remain stranded in West Asia due to the closure of the Strait of Hormuz.Also Read: Petrol, Diesel price hike: Fuel rates increased for fourth time in less than two weeks Only around five vessels have secured cover under the Bharat Maritime Insurance Pool.According to sources, while the government reiterated there was no shortage petrol, diesel and LPG, opposition MPs described the responses as unsatisfactory, citing the absence of granular data.On shortage of bitumen, MPs said officials failed to provide clear answers. Officials linked the supply stress to the ongoing West Asia conflict and admitted uncertainty over how long the crisis would continue. Some opposition members criticised the government for not taking pre-emptive measures, arguing that prolonged geopolitical tensions required better contingency planning.Shipping disruptions and risks faced by seafarers also figured prominently in the discussions. Around 13,000 Indian seafarers are currently in the affected region, of whom nearly 3,000 have returned, while many others chose to stay back voluntarily. Officials said Indian missions remain in contact with them and efforts are underway with the External Affairs Ministry to ensure safe passage for vessels.Officials also said cargo insurance premiums have risen sharply due to the conflict.Also Read: Govt examining possibility to introduce standard packaging for cooking oilOn fertilizers, officials assured the panel there was no immediate shortage ahead of the Kharif sowing season. Around 80 lakh tonnes have been procured through alternative sources against an estimated demand of 78 lakh tonnes, though concerns persist over rising global prices.The meeting was attended by officials from the Ministries of Petroleum, Shipping and Fertilizers, with Shipping Secretary Vijay Kumar presenting an overview.After the meeting, committee chairperson Sanjay Jha said: "India has not created this situation; the whole world is facing it. Ministries have presented facts and responses. We do not know how long this will continue, but the government is addressing the issues. Things are under control at the moment," he said.

from Economic Times https://ift.tt/eyXqBg5