Pakistan’s Oil Import Bill Exceeds IMF Estimate in FY26

Pakistan’s annual petroleum import bill exceeded the International Monetary Fund’s (IMF) estimate in fiscal year 2025-26 after a sharp rise in global oil prices driven by tensions in the Middle East.

According to official documents, Pakistan’s oil import bill reached $16.86 billion in FY26, which was $1.58 billion higher than the IMF’s estimate of $15.28 billion for the fiscal year.

On an annual basis, Pakistan’s oil imports increased 5.76 percent during FY26.

The IMF has projected Pakistan’s oil import bill at $16.31 billion for fiscal year 2026-27. However, continued volatility in international oil markets has already increased pressure on the country’s import bill.

The surge in global oil prices has not only raised Pakistan’s petroleum import costs but has also pushed domestic petrol and diesel prices to record highs, increasing the burden on consumers.

The government data shows that higher international crude oil prices significantly contributed to the increase in Pakistan’s import bill during the fiscal year ended June 30, 2026.