The Oil Companies Advisory Council (OCAC) has formally requested the State Bank of Pakistan (SBP) to extend the current permission for CIF-based imports, which is set to expire soon. This request comes as concerns over stock supplies amid the West Asia conflict have led to panic-buying among consumers. The OCAC's previous appeal was granted to help local refineries and oil marketing companies secure necessary cargoes under challenging conditions, making the extension critical for maintaining supply continuity.
BUSINESSPublished 27 Apr 2026 • Published 7h ago • Updated 5h ago
Oil Industry Requests Extension for CIF Import Arrangements in Pakistan
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The OCAC has requested an extension for CIF-based imports due to Middle East volatility, while the government revised diesel pricing, leading to higher consumer costs. Panic-buying has emerged as consumers fear further price hikes amid ongoing geopolitical tensions.
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