On April 24, 2026, the SBP announced that banks can now issue financial instruments and standby letters of credit for crude oil and LNG imports at the time of registration, a significant change designed to facilitate energy imports critical for the country's economy. This decision follows a recent survey indicating that 53% of market participants expect a rate hike at the upcoming Monetary Policy Committee meeting on April 27, with many attributing this shift to rising oil prices and geopolitical uncertainties.
BUSINESSPublished 24 Apr 2026 • Published 5h ago • Updated 3h ago
State Bank of Pakistan Eases Import Financing for Oil
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The State Bank of Pakistan (SBP) has amended import financing rules to expedite the import of crude oil and LNG, allowing banks to issue financial instruments at the contract registration stage. This move comes amid rising global oil prices and geopolitical tensions, aiming to ensure timely energy imports and reduce procedural delays.
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