Islamabad. The ongoing war in the Middle East and increasing geopolitical tension in the Strait of Hormuz is now having a direct impact on Pakistan’s economy and common life. With crude oil prices crossing $100 per barrel in the international market, a serious fuel crisis has arisen in Pakistan. Considering the seriousness of the situation, the government has decided to take strict steps to reduce energy consumption across the country.
Prime Minister Shehbaz Sharif has announced new guidelines to control the consumption of petroleum products. According to the government’s decision, schools across the country have been ordered to remain completely closed for the next two weeks. At the same time, higher education classes in colleges and universities will now be conducted in online mode so that the movement of students and staff can be reduced and fuel used in transportation can be saved. Apart from this, official dinners and iftar parties held at the government level have also been completely banned.
This fuel crisis has also badly affected the food market. The failure of Pakistan’s price control system is clearly visible during the holy month of Ramzan. A huge increase in the prices of fruits and vegetables has been recorded in many parts of the country including Punjab province. Despite the government rate list, shopkeepers are selling goods at arbitrary prices. For example, the government price of first grade bananas was fixed at Rs 240 per dozen, but these are not available in the markets for less than Rs 300. Similarly, guava and Kandhari pomegranate are also being sold at much higher prices than their fixed prices. The prices of essential commodities like ginger and apple are also becoming beyond the reach of the common man.
The main reason for this oil crisis in Pakistan is the tension created in the Strait of Hormuz. Due to the increasing conflict between America, Israel and Iran, the supply of oil through this important sea route has been disrupted. Since Pakistan imports most of its crude oil through this route, rising prices in the international market and disruption in the supply chain have created a shortage of petrol and diesel within the country. Economic experts believe that if the global situation does not improve soon, the people of Pakistan may have to face even more difficult challenges in the coming days.
