Islamabad: Pakistan is facing a severe economic jolt as surging global oil prices triggered by the Iran conflict have sent its weekly crude import bill soaring, exposing deep structural vulnerabilities in the country’s energy and economic framework.

Prime Minister Shehbaz Sharif has admitted that the country’s weekly oil import bill has jumped sharply from around $300 million to nearly $800 million (over ₹7,600 crore), marking a staggering rise of about 167 percent.

The spike, directly linked to instability in West Asia, has placed enormous strain on Pakistan’s already fragile economy. Officials have warned that the sudden surge in fuel costs is reversing recent economic gains and worsening the country’s ongoing debt crisis.

Analysts say the crisis highlights Pakistan’s heavy dependence on imported energy and its lack of long-term planning. With global crude prices rising due to disruptions in key supply routes, Islamabad has been left with limited options beyond passing the burden onto consumers through higher fuel prices and austerity measures.

The government has responded with conservation steps and frequent fuel price revisions, but critics argue these are short-term fixes that fail to address deeper issues such as poor energy diversification and weak fiscal management.

The oil shock is also expected to fuel inflation, increase transport and electricity costs, and further squeeze households already struggling with high living expenses. Businesses, too, face rising operational costs, threatening economic activity and growth.

Observers warn that Pakistan’s vulnerability to external shocks particularly in energy reflects a broader pattern of reactive policymaking. Without structural reforms and reduced reliance on imports, such crises are likely to recur, leaving the economy exposed to global geopolitical tensions.

The ongoing situation underscores how external conflicts, like the Iran war, can quickly translate into domestic economic crises for Pakistan, amplifying existing weaknesses and pushing the country deeper into financial uncertainty.

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