By Admin 
Pakistan Crude Import: Pakistan’s debt-ridden economy already faces many challenges. On top of this, the war between Iran and Israel has further increased the problem. Due to increasing tension and war situation in Western Asia, Pakistan’s monthly expenditure on oil import may increase by 600 million dollars (about 60 thousand crore rupees). According to the report of the newspaper Dawn in Pakistan, the country’s Finance Minister Muhammad Aurangzeb said that to reduce the pressure of this increasing economic burden on the government, an appeal will be made to the International Monetary Fund (IMF) for relief in petroleum tax.
While speaking to reporters last Sunday, Aurangzeb said that in the event of war in Western Asia, Pakistan’s monthly oil import bill could increase to $600 million. He also told that the government is making another plan to deal with the impact of rising oil prices. Meanwhile, Pakistan’s Petroleum Minister Ali Pervez Malik has talked about paying attention to ways of saving fuel so that the country’s existing reserves can be used for a longer period. Apart from this, Pakistan is also in touch with countries like Oman and Saudi Arabia so that oil can be supplied through alternative routes other than the Strait of Hormuz.
Petrol and diesel prices increased in Pakistan
Meanwhile, Shehbaz Sharif’s government in Pakistan has also increased the prices of petrol and diesel by 55 PKR per liter. With this, the price of petrol in Pakistan is now 321.17 PKR per liter and the price of diesel is 335.86 PKR. KR per liter. Due to this decision of the government, a mountain of troubles has fallen on the people there. People are already struggling with increased expenses in the month of Ramadan. At the same time, the increase in the price of petrol and diesel has spoiled the household budget.
Pakistan’s foreign exchange reserves under pressure
Pakistan currently has 21.43 million dollars in foreign exchange reserves. Of these, State Bank of Pakistan (SBP) has $16.3 billion. In such a situation, additional expenditure of 600 million dollars on oil import can rapidly reduce Pakistan’s foreign exchange reserves. Anyway, the sword of loan of 23 billion dollars taken from other countries is already hanging over Pakistan. In such a situation, more and more dollars from the expensive oil bill will go into imports. Due to this, to repay the loan installments, one may again have to resort to a new loan or rollover.
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