business

June 21, 2025

ICMAP calls for 90-day oil buffer, Sharia hedging to avert economic shocks

This picture shows a general view of the seaport in Karachi. — AFP/FileKARACHI: The Institute of Cost and Management Accountants of Pakistan on Friday recommended expanding Pakistan’s strategic petroleum reserves from the current 21 days to at least 90 days of national demand, as well as adopting Sharia-compliant oil price hedging instruments to tackle the fallout from the Israel-Iran conflict.The ICMAP has released a policy-focused assessment, supporting the government’s recent...