Pakistan Bureau of Statistics

Iranian oil smuggling into Pakistan has dropped by 60% following attacks on tankers in Balochistan, which caused significant losses for smugglers. The smuggling decline coincides with the US-Israeli war on Iran, which disrupted global oil transit via the Strait of Hormuz and increased crude oil prices. Pakistan avoided fuel rationing despite reduced smuggling, maintaining a 25-day oil reserve.

Pakistan's trade deficit surged to $39.47 billion in FY26, driven by a 32.1% increase in crude oil imports and rising petroleum import costs. The article highlights the need to shift to solar power, battery storage, and electric mobility to reduce reliance on imported fossil fuels, which contribute significantly to the trade deficit.

The deregulation of non-essential medicine prices in Pakistan in February 2024 resolved shortages but led to unaffordable costs for many, forcing patients like Abdul Rauf and Fatima Javed to prioritize or skip treatments due to financial constraints.

Pakistan’s consumer inflation rate decreased slightly to 11.1% in June due to lower energy and food prices, but the government has not fully passed on benefits from lower international oil prices. The SBP raised its policy rate to 11.5% amid ongoing inflationary pressures, with urban inflation at 11.2% and rural at 10.9% annually.