Karachi: The State Bank of Pakistan has extended its special permission for importing crude oil and petroleum products on a Cost, Insurance and Freight (CIF) basis until July 10, 2026. This move aims to ensure uninterrupted fuel supplies as international oil markets remain highly volatile due to geopolitical tensions.
Relief Provides Breathing Space for Importers
Moreover, a fresh circular to authorized dealers originally granted on March 11, 2026, will continue for another two months.
Transitioning from earlier measures, the SBP first allowed CIF imports for 60 days in March when global prices fluctuated sharply because of supply concerns and Middle East tensions. Under the CIF arrangement, sellers handle all costs, insurance, and freight up to Pakistani ports. This setup gives local importers greater convenience and helps maintain steady availability of petroleum products.
Broader Efforts to Secure Energy Supplies
The extension comes as Pakistan works hard to protect its fuel supply chain. Authorities continue coordinating with oil marketing companies and refineries while managing foreign exchange outflows. Recent steps also include efforts to secure stable LNG imports amid uncertainty around key shipping routes like the Strait of Hormuz.
The central bank urged all authorized dealers to inform relevant stakeholders and ensure strict compliance with the updated instructions. This timely relief supports the government’s goal of avoiding any disruptions in energy supplies during a period of global uncertainty.
Many industry players welcomed the decision, saying it provides much-needed stability for planning imports and keeping domestic fuel prices under control. The SBP is expected to review the situation again before the new deadline to decide on further steps.
