Foreign Desk, 19 Mar : Pakistan’s fragile economy faces mounting pressure as rising global fuel prices and limited petroleum reserves threaten growth and stability.
Reduced remittance inflows, slowing exports, and escalating import bills could widen the current account deficit, echoing conditions experienced during the 2022 economic crisis.
If tensions in the Middle East persist, the country risks returning to high inflation and macroeconomic instability.
Pakistan has diesel stocks sufficient for 21 days, petrol for 27 days, LPG for nine days, and jet fuel for 14 days, leaving the country highly vulnerable amid ongoing regional tensions.
Nearly 70 per cent of the nation’s petroleum imports come from the Middle East, and conflicts have disrupted shipping routes and supply chains, raising immediate concerns over energy security.
Authorities are negotiating with Iran to secure oil shipments through the Strait of Hormuz, which could allow four vessels to transport crude if approved.
Officials have also warned that severe liquefied natural gas shortages are likely after April 14 due to ongoing supply disruptions.
The combination of supply bottlenecks and geopolitical tensions has driven global oil prices sharply higher, with diesel and petrol costs rising significantly.
Red Sea shipments now take nearly 12 days, up from the usual four to five, straining the energy supply chain.
To support citizens, the government has rolled out a ₹23 billion subsidy for 30 million motorcycle and rickshaw owners, funded through austerity savings.
Daily petroleum stock reviews ensure short-term availability.
Rising fuel costs will push up petrol, electricity, and transport prices, hitting low- and middle-income households and highlighting the urgent need for energy security and economic resilience.
