DCW Monthly: April 2026
The ICC Banking Commission decided not to revise UCP 600 or ISBP 821. The argument: the rules are fine, what&
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”.
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