ECC approves bonded storage of imported petroleum products

ISLAMABAD: In view of recent supply disruptions following the closure of the Strait of Hormuz, the government on Monday formally approved allowing foreign fuel suppliers to establish bonded storage facilities in Pakistan at their own expense for multiple purposes, including re-export and supplies to the domestic market. Subject to formal ratification by the federal cabinet, the new policy guidelines on “Import on Foreign Supplier’s Account through Customs Bonded Storage Facilities” will come ...

By [email protected] (Khaleeq Kiani)