Pakistan, May 8 -- The federal government has restricted private oil marketing companies (OMCs) from importing high-speed diesel (HSD), permitting only Pakistan State Oil (PSO) to handle its procurement, in a move intended to strengthen control over fuel imports and reduce pressure on the external account.

The decision, taken at a recent meeting of the National Coordination and Management Council (NCMC), effectively centralises diesel imports under the state-run entity.

Officials say the restriction will remain in place until the situation in the Middle East stabilises, a factor that has contributed to volatility in global oil markets.

Under the new arrangement, private OMCs seeking to import HSD must obtain prior approval from the NCM...