Islamabad (Commerce Desk): Pakistan’s petroleum import bill exceeded the International Monetary Fund’s (IMF) estimates due to an extraordinary rise in global oil prices caused by increasing tensions in the Middle East.
According to official documents, Pakistan’s oil import bill reached $16.86 billion during the fiscal year 2025–26, which is $1.58 billion higher than the IMF’s initial estimate.
The IMF had projected Pakistan’s oil imports at $16.31 billion for the fiscal year 2026–27; however, rising global oil prices led to a significant increase in import expenses.
According to the report, high oil prices not only increased the country’s import bill but also resulted in consumers facing record-high petrol and diesel prices.
The documents show that during the fiscal year 2025–26, which ended on June 30, Pakistan’s oil imports recorded an annual increase of 5.76 percent.
Economic experts say the global energy crisis, regional tensions, and fluctuations in prices are among the major factors contributing to increased pressure on Pakistan’s external payments.