Pakistan has approved a plan allowing foreign suppliers to import and store petroleum products in customs-bonded facilities on their own accounts, in a move aimed at strengthening the country’s fuel security and petroleum supply chain.
The Economic Coordination Committee (ECC) approved the proposal submitted by the Petroleum Division on Monday.
Under the approved arrangement, foreign suppliers will be allowed to store petroleum products at approved bonded warehouses in Pakistan while the products remain under the customs-bonded regime.
The measure is expected to provide greater flexibility in fuel storage and supply management while helping Pakistan build a more resilient petroleum supply chain.
Plan Covers Major Petroleum Products
The initiative will cover a wide range of energy products, including:
- Crude oil
- Petrol
- High-speed diesel
- Jet fuel
- Furnace oil
- LPG
- LNG
The government intends to use the new framework to strengthen energy security and support the development of strategic petroleum reserves.
The move comes as Pakistan seeks to improve its ability to manage fuel supplies and reduce vulnerabilities in the petroleum supply chain.
Allowing foreign suppliers to maintain stocks in bonded storage could provide additional flexibility during periods of increased demand or supply disruptions.
The initiative is also expected to support the government’s broader efforts to develop strategic petroleum reserves and improve the country’s preparedness for potential energy supply challenges.
