ISLAMABAD: The ministry of commerce has issued policy for import of petroleum products through under the new Import Policy Order, 2020.
The ministry issued SRO 902(I)/2020 dated September 25, 2020 to notify the import policy order.
01. Under the policy, petroleum oils and oils obtained from bituminous minerals crude shall only be importable by oil refineries.
02. Motor spirit including aviation spirit, kerosene, including kerosene type jet fuel (JP-1, JP-4), other medium oils and preparations/light diesel oil, gas oils/high speed diesel oil and other fuel oils shall be importable by approved oil marketing companies.
Provided that oil refineries shall be allowed to import higher octane products (95/97 RON) for blending purposes only.
03. Furnace oil shall be importable by oil marketing companies, WAPDA, KESC, IPPs and industrial consumers for self-consumption:-Provided that furnace oil shall be importable by commercial importers subject to clearance from Oil Companies’ Advisory Committee (OCAC) of the Ministry of Petroleum and Natural Resources, Government of Pakistan.
04. For finished lubricants, the import of automotive engine oils of quality level (API) SC/CC and above and automotive gear oils of (API) GL-4 and above shall be imported by commercial importers, lubricants blending companies, lube/oil marketing companies and refineries having valid registration with the Oil and Gas Regulatory Authority (OGRA) under the rules.
05. Residues of petroleum oils shall be importable by industrial manufacturers only subject to NOC from the Ministry of Climate Change.