Global banks stop trade credit for oil imports by Pakistani firms

An overview shows tankers parked outside a local oil refinery in the Pakistan's port city of Karachi, Pakistan, on February 22, 2011. (AFP/File)

May 26: Foreign banks have stopped offering trade credit for oil imports to Pakistani refineries, and some suppliers are seeking payment upfront to avoid potential problems resulting from political standoff in the country, The News reported Thursday.

Read More I