Petrol Price in Pakistan brace for quick surge amid pressure from IMF

2026-03-06 - 12:23

ISLAMABAD – The International Monetary Fund reportedly pushed Pakistan to jack up petrol and diesel prices at once and eliminate any subsidies. Authorities were told that consumers must bear the full burden of price increases, while the government meets strict revenue targets from the petroleum development levy. The talks also revealed bold and controversial ideas to slash energy consumption. Proposals include shifting schools and colleges to online classes, forcing universities and government offices into hybrid work models, and imposing fixed operating hours on shops and markets. Businesses may be pushed toward delivery-based services to cut electricity and fuel usage, moves critics warn could disrupt daily life and the economy. The South Asian nation is preparing emergency fuel-saving strategy amid fears of global oil shortages. Tensions in the Middle East escalated after military exchanges between Israel and the United States and Iran, raising alarms over potential disruptions to shipping. The situation is especially sensitive because vast quantities of crude oil and liquefied natural gas pass through the Strait of Hormuz, a strategic chokepoint for global energy trade. With preparations underway for a nationwide action plan, the government may even reintroduce work-from-home policies reminiscent of the pandemic era. Pakistan to revise petrol prices weekly as PM okays new proposal