Pakistan Seeks to Become Regional Energy Hub With New Customs-Bonded Oil Storage Policy

پاکستان کا غیر ملکی تیل سپلائرز کے لیے نئے گیٹ وے کا منصوبہ

Pakistan Seeks to Become Regional Energy Hub With New Customs-Bonded Oil Storage Policy

Pakistan is set to open its petroleum storage sector to international oil suppliers through a customs-bonded framework that permits both local sales and re-exports. The Petroleum Division has sent the 168-page policy, titled The Policy Guideline on Import on Foreign Suppliers' Account through Customs Bonded Storage Facilities-2026, to the Economic Coordination Committee for approval.

The initiative covers strategic commodities including crude oil, motor spirit, high-speed diesel, jet fuel, fuel oil, LPG and LNG. Bonded storage locations are envisaged at Port Qasim, KPT/Kemari, Hub, Gwadar, Mahmood Kot and Machike Sheikhupura, subject to regulatory and safety approvals.

The framework allows international suppliers from regions like the Middle East to maintain inventories in Pakistan without immediately triggering domestic duties, taxes or foreign-exchange remittances at entry. Foreign suppliers can participate through a registered liaison office, local branch or incorporated company acting as a consignee.

The policy provides for the movement of bonded petroleum through the national pipeline network and between approved locations without triggering duties while products remain in bond. The framework aims to make the bonded-storage model tax neutral, exempting goods from all taxes and levies as long as they remain within the bonded regime.