Regulatory Alerts2026-03-11 | EPD Circular Letter No. 04Permission for Import of Crude Oil and Petroleum Products on CIF Basis
The Exchange Policy Department has authorized all foreign exchange dealers to import crude oil and petroleum products on a Cost, Insurance, and Freight (CIF) basis. This temporary measure remains valid for sixty days from the circular's issuance on March 11, 2026, to address critical domestic supply needs. Dealers must ensure their constituents comply with the updated terms by referencing Paragraph 5, Chapter 13 of the Foreign Exchange Manual.
Circulars/Notifications - Exchange Policy Department
EPD Circular Letter No. 04 of 2026
March 11, 2026
The Presidents/Chief Executives of All Authorized Dealers in Foreign Exchange Dear Sir / Madam,
Permission for Import of Crude Oil/ Petroleum Products on CIF Basis
Attention of Authorized Dealers is drawn towards Para 5, Chapter 13 of the Foreign Exchange Manual, which specifies permissible Incoterms for import of goods into Pakistan.
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In view of the prevailing situation and critical importance of crude oil and petroleum products for the country, it has been decided to allow import of Crude Oil/ Petroleum Products on CIF basis for a period of sixty (60) days from the date of issuance of this circular letter.
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Authorized Dealers are advised to bring the above to the notice of all their constituents for meticulous compliance.
Yours truly,
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(Dr. Asif Ali) Director