Pakistan Eyes Iran Oil, Gas Imports Under US Waiver
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- Ali Pervaiz Malik, Pakistan's Minister for Petroleum, said the government is examining imports of cheaper oil and gas from Iran, stressing any deal would comply with Pakistan's international obligations.
- The US granted Iran a 60-day sanctions waiver allowing crude oil and petroleum product exports under specific conditions, tied to ongoing Washington-Tehran negotiations and renewable based on diplomatic progress.
- Pakistan's petrol prices surged to PKR 414 per litre during the US-Iran conflict and have since dropped to around PKR 300 per litre as international crude prices eased.
- Economist Mahmood Rasool said consumers in parts of Punjab face acute gas shortages, receiving supplies for only a few hours each day.
- Malik said Pakistan has already passed on greater price relief to consumers than the decline in international crude prices would justify, and will reduce domestic prices further if global prices drop again.
Why it matters: Pakistan faces acute gas shortages in Punjab and recent fuel price swings (PKR 414 to PKR 300 per litre). The 60-day US waiver offers a narrow import window—but it can be extended, modified, or revoked based on US-Iran negotiation progress, making any deal politically contingent on Washington-Tehran diplomacy.
