Pakistan’s Energy Import Bill Rises Again, Up 30% in September
KARACHI (Staff Report): Pakistan’s energy import bill has started rising again, putting pressure on the external account.
According to the State Bank of Pakistan (SBP), the country’s energy imports surged by 30% year-on-year in September.
Data shows that in September 2026, Pakistan’s total energy imports exceeded $1.4 billion, marking a significant increase compared to the same month last year.
The trend for the first quarter of the current fiscal year also shows an upward trajectory. The central bank reported that in Q1 FY27, the overall energy import bill increased by 9% year-on-year.
In the first three months of FY27, July to September, total energy imports stood at $3.9 billion, the SBP data revealed.
A breakdown of the data shows a major shift in the import mix.
Crude oil imports witnessed a sharp jump. According to the central bank, crude oil imports surged by 53% year-on-year during July-September 2026, reflecting higher refinery throughput and increased processing of crude by local refineries.
In contrast, imports of finished petroleum products declined. The SBP said POL imports fell by 11% in the first quarter of the current fiscal year, indicating improved local refining and lower reliance on imported refined products.
The gas sector showed a mixed trend. LNG imports dropped significantly by 39% during July-September 2026, the central bank noted. Analysts attribute the decline to volatile global LNG prices and subdued domestic demand.
On the other hand, LPG imports increased sharply. According to the SBP, LPG imports rose by 30% year-on-year in the first three months of the current fiscal year, pointing to growing consumption in domestic and commercial sectors.
Economic analyst Jibran Sarfraz says that while higher crude imports are positive for refinery capacity utilization, they could pose a challenge for the current account amid rising global oil prices. The government needs to focus on diversification of energy sources and greater use of local energy resources to contain the import bill.