Former prime minister Imran Khan had already predicted today’s US-Iran war and countries like Pakistan suffering because of it.
Speaking during a session of the World Economic Forum many years ago while serving as Pakistan’s prime minister before getting ousted in 2022, Khan warned that any military confrontation between Iran and the US + its allies would trigger severe economic consequences, particularly for developing countries dependent on imported energy.
“If there’s a conflict between Iran and the US and its allies, it will be a disaster,” Khan said at the time. He warned that Pakistan would be among the hardest-hit nations as oil prices surged and fragile economies struggled to absorb external shocks.
He stressed that rising energy costs could instantly destabilize national budgets and current account balances already under pressure, adding that such a war would fuel poverty worldwide and create prolonged economic uncertainty.
Khan also revealed he had personally raised concerns with regional and global leaders, including then-US President Donald Trump, urging diplomacy to avoid a conflict he believed would severely damage countries like Pakistan.
Years later, the scenario Khan described appears to be unfolding. At least in Pakistan, it has.
Global oil markets have surged following the Gulf War, triggering one of the sharpest fuel price shocks Pakistan has faced in decades. Petrol prices recently climbed to Rs. 458.40 per litre and high-speed diesel to Rs. 520.35/litre, making Pakistan the world’s second most fuel-unaffordable country after Ethiopia when measured against income levels.
The surge reflects exactly what Imran Khan warned about: developing economies absorbing the spillover effects of the US-Iran war through energy inflation.
A day after the fuel bomb, current Prime Minister Shehbaz Sharif declared a Rs. 80 per litre discount on petrol by temporarily reducing the petroleum levy.
Despite the relief, the crisis has already begun spreading chaos across the country.
Transporters across Pakistan have increased fares by up to 30 percent due to high diesel costs, while freight charges and food prices have also started climbing.
Earlier fuel increases of up to 54 percent have intensified inflationary pressure on households already struggling with high living costs.
The federal government’s heavy reliance on imported oil leaves Pakistan highly exposed whenever regional tensions escalate.
In his WEF remarks, Imran Khan warned that a US-Iran war would not remain confined to the battlefield but would ripple through energy markets, budgets, and social stability worldwide.
Today, the former prime minister’s prediction appears strikingly consistent.
What he described as a potential future crisis has now become Pakistan’s present reality: an energy shock translating directly into economic hardship for millions.