00:13Amid the developing security situation in West Asia, Pakistan could see its monthly oil import
00:19bill soar to a whopping 600 million U.S. dollars, the country's finance minister
00:24Mohammad Aurangzeb said on March 8, Dawn reported. He also mentioned that the government is preparing
00:31alternative plans to deal with the financial impact of rising oil prices. As per Dawn, the crude prices
00:38could rise to 120 U.S. dollars a barrel if the conflict escalates further. As Pakistan continues
00:46to reel under economic stress, Pakistan's Petroleum Minister Ali Pervais Malik called for fuel-saving
00:52measures so that Islamabad's existing reserves last longer and added that the country would
00:56request the International Monetary Fund for relief in the petroleum levy. This comes amid the backdrop
01:03of Pakistan announcing a massive hike in fuel prices, with petrol and high-speed diesel rates
01:08jumping by Rs. 55 per litre and increase of approximately 20%. As of March 7, 2026, the new
01:17rates have pushed petrol to Rs. 321.17 and high-speed diesel to Rs. 335.86 per litre, placing an
01:25immense
01:26burden on an already struggling economy amid the escalating crisis in West Asia. The announcement
01:31has sparked widespread anxiety across the country, where residents are already battling high living
01:37costs during the month of Ramadan as commuters and workers have expressed despair over the rapid cost of
01:42living increase. With petrol now reaching Rs. 324 per litre, the rise is expected to affect the prices of
01:50many other goods, making life increasingly difficult for ordinary citizens trying to cope with the growing
01:55financial strain. Experts warn that this fuel shock will likely trigger a second wave of inflation, as transport
02:02and logistics costs rise, inevitably driving up the price of food and essential goods. Meanwhile Prime Minister
02:10Shahbaz Sharif would unveil an austerity plan of the government on March 9, in view of the fuel crisis
02:16amid the US-Israel-Iran War Dawn reported citing Pakistan Prime Minister's office. As per Dawn report,
02:23Pakistan PM has chaired a meeting on March 8 to review the austerity plan.
02:54Pakistan PM had a
03:02You
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