Amid escalating tensions in West Asia, the Central government has clarified that there is no immediate plan to provide a bailout package for oil companies. Oil Secretary Neeraj Mittal addressed public concerns on Monday, stating that the country faces no shortage of fuel and that there are no intentions to implement rationing measures.
Government Assurance on Fuel Supply
Speaking to reporters, Mittal emphasized that the government is closely monitoring the situation but sees no need for emergency interventions at this time. "We have sufficient fuel stocks and a robust supply chain. There is no shortage, and we are not considering any bailout package for oil companies right now," he said.
Market Stability Maintained
The oil secretary noted that global crude prices have been volatile due to the West Asia crisis, but domestic prices remain stable. He attributed this to strategic petroleum reserves and diversified import sources. "Our refineries are operating at full capacity, and we are ensuring uninterrupted supply to all sectors," Mittal added.
No Rationing Plans
Addressing rumors of potential fuel rationing, Mittal categorically denied any such plans. "There is no proposal for rationing. The public should not panic. We have enough fuel to meet demand," he stated.
The clarification comes amid fears of supply disruptions following recent conflicts in the region. However, the government remains confident in its preparedness to handle any eventualities without resorting to bailouts or rationing.
