On the sidelines of the 14th SAARC summit, Pakistan minister has sought a detailed note on Indian Oil Corporation's proposal to supply petrochem, particularly PTA and lubricant- making oils from the company's Panipat refinery. No problem was anticipated in sourcing the products from India as Pakistan freely allows import of these items. This indicates that state oil refiner Indian Oil Corporation (IOC) could open a passage to Pakistan with its petrochemicals and base oils used for making lubricants upon completion of its Panipat cracker. Indian Oil had last year exported a shipment of base oils to Pakistan from its Haldia refinery.
Pakistan will also enjoy a cost advantage in sourcing these items from Panipat, as currently it imports PTA at the Karachi port and has to transport it cross country to consumption centres. Importing from Panipat will save on freight as the refinery is close to Pakistan's consumption centres, particularly Lahore, and is well connected by road and rail.
10-Apr-07 
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