The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
Prime Minister Shehbaz Sharif has promised that the Pakistani government will intervene on behalf of oil refineries facing potential shutdown due to international banks’ unwillingness to “endorse” LCs opened by refineries for crude oil imports.
According to The Express Tribune, a source quoted Sharif as saying: “If the issue of LCs worsens, the State Bank of Pakistan (SBP) will make payments for oil import”.
