The Sindh government has formally directed the Petroleum Division to ensure that all petroleum importing companies, including Pakistan State Oil (PSO), submit bank guarantees instead of previously accepted undertaking documents for the clearance of imported fuel consignments.<\/p>\n
According to official sources, the provincial government\u2019s move follows the Supreme Court of Pakistan\u2019s order dated September 1, 2021 (CPLA No. 4288 of 2021), which made it mandatory to provide bank guarantees under the Sindh Infrastructure Development Cess (SIDC) for the clearance of petroleum products entering the province.<\/p>\n
The court ruling specified that non-compliance with the directive would be treated as defiance of court orders, prompting Sindh to tighten its enforcement mechanisms.<\/p>\n
Officials said the new requirement aims to ensure transparency and compliance in the petroleum import process and to secure the province\u2019s revenue interests under the SIDC framework.<\/p>\n
Petroleum importers have been informed that the bank guarantee condition now applies to all consignments, including those handled by state-run companies. The Petroleum Division has been asked to circulate instructions to relevant federal and private sector stakeholders for immediate implementation.<\/p>\n
Industry insiders noted that the decision could affect import timelines and liquidity management for major fuel companies, as bank guarantees typically involve higher financial commitments compared to undertakings.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Sindh government has formally directed the Petroleum Division to ensure that all petroleum importing companies, including Pakistan State Oil (PSO), submit bank guarantees instead of previously accepted undertaking documents for the clearance of imported fuel consignments. According to official sources, the provincial government\u2019s move follows the Supreme Court of Pakistan\u2019s order dated September 1, […]<\/p>\n","protected":false},"author":2,"featured_media":67575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,16],"tags":[],"ppma_author":[95],"class_list":{"0":"post-67574","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest","8":"category-pakistan"},"yoast_head":"\n