ISLAMABAD: Pakistan would be among the biggest beneficiaries if Iran is allowed to re-enter global energy markets and resume oil and gas exports, according to a senior government adviser.
Finance Ministry adviser Khurram Shahzad said that any easing of sanctions on Iran and its reintegration into the international oil economy could significantly improve regional energy supply dynamics, potentially offering economic advantages for countries like Pakistan.
Speaking on a television programme, he noted that such developments could open new avenues for energy cooperation, trade routes and regional connectivity, although the full benefits would take time to materialise.
He added that Pakistan has already begun passing on reductions in global crude oil prices to domestic consumers, with fuel rates adjusted multiple times in recent weeks in response to international market movements.
According to the adviser, petrol and diesel prices have seen successive cuts, including reductions of around Rs22 per litre, followed by further decreases of Rs10–12 per litre and most recently about Rs4 per litre, reflecting changes in global oil trends.
However, he explained that domestic fuel pricing is influenced by multiple factors beyond crude oil prices alone, including supply chain constraints and import logistics.
He highlighted the importance of energy routes such as the Strait of Hormuz, through which a significant portion of Pakistan’s imported energy passes. Any disruption in global supply chains, he said, can delay or limit the transmission of international price relief to local markets.
The adviser also noted that refined petroleum product prices do not always move in direct correlation with crude oil rates, making domestic price adjustments more complex and dependent on broader market indicators.
Despite these challenges, officials say Pakistan is gradually benefiting from falling international oil prices, with further relief expected if global energy markets remain stable.