Pakistan, Aug. 10 -- Pakistan is preparing a new customs-bonded framework that would allow international oil suppliers to store petroleum locally, sell it domestically or re-export stocks. The move aims to strengthen energy security, improve supply resilience and position Pakistan as a regional petroleum storage and trading hub.

The proposed policy would allow foreign suppliers to keep imported petroleum in bonded facilities without immediately paying domestic duties and taxes. The Petroleum Division has sent the 168-page framework to the Economic Coordination Committee for approval, covering crude oil, petrol, diesel, jet fuel, fuel oil, LPG and LNG.

Under the proposed system, suppliers could store petroleum at Port Qasim, KPT/Kemari, ...