Pakistan Introduces New Policy Framework to Facilitate Oil Imports

ISLAMABAD:Pakistan has decided to introduce a new policy framework aimed at facilitating the import of petroleum products and attracting international oil suppliers to the country.

Under the proposed framework, international suppliers will be allowed to bring petroleum products into Pakistan and store them in customs-bonded facilities. The products can then be sold to local oil marketing companies and refineries or re-exported to international markets.

The policy has been designed to attract foreign suppliers and strengthen Pakistan’s energy security buffer by enabling the country to maintain strategic stocks without immediately triggering domestic duties and taxes.

Under the Import Policy 2026 through customs-bonded storage facilities, new regulations have been introduced for international suppliers. The guidelines provide a mechanism for foreign companies to keep petroleum stocks in Pakistan without immediately becoming liable for local duties and taxes.

The framework also gives suppliers greater flexibility to decide whether to supply their stocks to the domestic market or re-export them, potentially improving the availability and management of petroleum products in Pakistan.