Pakistan introduces new petroleum import policy to attract foreign suppliers

Pakistan is introducing a new policy framework, the Customs Bounded Storage Import Policy 2026, to modernize its petroleum import system and attract international oil suppliers.

Under this new arrangement, foreign companies can bring petroleum products into the country and hold them in customs-bonded storage facilities. This structure allows suppliers to maintain stock without immediately triggering domestic duties and taxes upon arrival.

The policy provides significant commercial flexibility, allowing international suppliers to choose between selling their stock to local refineries and oil marketing companies or re-exporting the products to other markets based on pricing and demand.

Government officials aim for this move to strengthen Pakistan's energy security buffer, improve the availability of petroleum products, and position the country as a more attractive regional hub for petroleum trade.