October 24, 2026
World Bank Calls the Conflict Pakistan’s Biggest Risk
The Bank names a longer or more intense Middle East conflict as the biggest risk to Pakistan's near-term outlook, with energy imports the main channel.
Articles for tag: Current account, economy, energy imports, GCC, growth, world bank
August 12, 2026
Oil Nears $90 as Hormuz Traffic Falls to Six Vessels a Day
Brent rose towards $90 as attacks on two ships and doubts over a US-Iran deal outweighed a sharp build in US crude stocks. Shipping data show six vessels transited Hormuz on Monday, against 125 to 140 a day before the war.
August 10, 2026
Turkish Petroleum to Begin Offshore Drilling in Pakistani Waters, Says Petroleum Minister
Ali Pervaiz Malik says Turkish Petroleum will soon begin offshore drilling in Pakistan's territorial waters. He put import dependence at about 90 per cent of energy needs, with domestic output near 70,000 barrels a day against demand of about 500,000.
Foreign exchange reserves at a 26-month high
KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $33 million to a 26-month high of $9.43 billion for the week ended August 30, 2024, according to the central bank’s latest update. bank. The continued rise in reserves over the past six weeks boosted the domestic currency, which appreciated by Rs 0.10 to Rs 278.67 against the US dollar in the interbank market, reversing a recent downtrend. The rupee had earlier closed at a five-month low of Rs 278.77 on Wednesday. Cumulatively, the SBP’s reserves increased by $409.6 million over the past six weeks,
Energy imports fell 13% to $1.42 billion in November
KARACHI: Pakistan saw a 13% drop in total energy imports to $1.42 billion in November 2023, shedding light on sluggish demand for oil, petroleum and gas products. Economic activities remained lackluster due to sluggish growth and the recent rise in commodity prices hampered purchasing power in various sectors. Falling demand for products, particularly furnace oil used in power generation, has prompted refiners to explore export opportunities. By exporting furnace oil, refiners created scope to import larger quantities of crude oil, which, in turn, allowed them to produce high-quality products such as gasoline and diesel. According to the latest data from
