By any measure, the recent global oil crisis posed one of the most severe external shocks to Pakistan’s fragile economy in recent years. The crisis, triggered by escalating regional tensions and disruptions around the Strait of Hormuz, a critical artery for global oil transit, sent shockwaves across energy markets. Partial transmission of global price increases, coupled with targeted subsidies, helped avoid the pitfalls seen elsewhere fuel shortages, rationing, and public unrest. The mobilization of national resources, including the Pakistan National Shipping Corporation and local refineries, further strengthened resilience. Investment in renewable energy, domestic exploration, and energy efficiency must now move from policy rhetoric to actionable priorities.

Source: The Patriot April 07, 2026 19:49 UTC