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Profit OIL SHOCK PUSHES PAKISTAN’S WEEKLY IMPORT BILL TO $800M AMID MIDDLE EAST CRISIS: PM Thursday, 30 April, 2026 | 12 Dhul-Qadah, 1447
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PREMIER SHEHBAZ FLAGS SHARP SURGE FROM $300M PRE-WAR LEVEL TO $800M, TERMING THIS HIGHLY CHALLENGING SITUATION
SAYS PAKISTAN’S RESERVES STABLE DESPITE DEBT REPAYMENTS AND $3.45B UAE DEPOSIT
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Rs 20.00 | Vol XVII No 35 | 8 Pages | Lahore Edition
SAYS NEW FUEL PRICE EXPECTED TO BE ANNOUNCED ON FRIDAY, NOTING SITUATION ‘CHALLENGING’ BUT EXPRESSES CONFIDENCE IN COORDINATED RESPONSE
PRAISES SAUDI ARABIA FOR EXTENDING $5B FACILITY FOR THREE YEARS, DEPOSITS $3B SUPPORT
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LAUDS PETROLEUM MINISTER FOR MANAGING FUEL SUPPLY PRESSURES, AND KEEPING SITUATION ‘SATISFACTORY’
PM DIRECTS RAILWAYS TO IMPROVE SAFETY, FREIGHT SERVICES FOR ECONOMIC BOOST ISLAMABAD
Staff report
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ISLAMABAD
Saleem Jadoon
RIME MINISTER Shehbaz Sharif on Wednesday expressed concern over rising global crude oil prices, stating that the country’s “weekly oil bill has surged to $800 million” due to the ongoing oil crisis triggered by the Middle East conflict, and added that “new fuel prices were expected to be determined on Friday.” Addressing a meeting of the federal cabinet, according to a statement issued by the Prime Minister’s Office (PMO), he said global fuel prices had risen sharply, pushing Pakistan’s weekly oil import bill significantly higher. “Fuel prices in the global markets had risen sharply, and our weekly
pre-war oil bill was around $300 million. Today, it has gone up to $800 million,” the prime minister said, adding that this was a highly challenging situation. However, he expressed optimism that the government would manage the situation through “collective wisdom and coordinated efforts” to keep matters under control. Global oil prices have surged over the past two months as shipping through the Strait of Hormuz has remained disrupted since the US and Israel launched joint strikes on Iran on February 28. The prime minister commended Petroleum Minister Ali Pervaiz Malik for handling the fuel crisis arising from the Iran conflict, stating that the situation now appeared “satisfactory.” He also noted that national fuel consumption had declined
compared to previous weeks, adding that the situation was being closely monitored. “Consultations are also being held with provinces to extend fuel subsidies,” he informed the cabinet. PM Shehbaz further said Pakistan was performing well on the macroeconomic front before the war, but the conflict had “set back two years of economic efforts.” Despite this, he noted that federal reserves remained stable even after debt repayments, including a $3.45 billion deposit to the United Arab Emirates (UAE). He also expressed gratitude to Saudi Arabia for its financial support, saying the Kingdom had recently transferred a $3 billion deposit and agreed to extend its existing $5 billion facility for another three years. PAKISTAN’S DIPLOMATIC OUT-
Pakistan working silently to find 'new formula' to break US-Iran deadlock: sources ISLAMABAD anadolu
Away from the media limelight, Pakistan is working silently to break the ongoing deadlock between the United States and Iran, focusing on finding a new formula for a long-awaited agreement on the Strait of Hormuz and Tehran's nuclear programme, two government sources familiar with the matter told Anadolu on Wednesday. "Both sides are actively engaged in back-channel diplomacy, conveying formulae and counter-formulae through Pakistan to reach an agreement," a source said, adding that the current negotiations were focused on the nearly closed Strait of Hormuz and the nuclear issue. The sources, however, did not provide details on the formulae from either side, saying that Pakistan's focus was on finding a "middle way" on the two simmering issues. Washington and Tehran are currently deadlocked over a fresh Iranian peace proposal conveyed by Pakistan, following two visits to Islamabad last week by Abbas Araghchi, Iran’s foreign minister. The proposal offered to end the war and reopen the Strait of Hormuz in exchange for the US lifting its blockade of Iranian ports. Tehran has also suggested that talks on its nuclear programme should be postponed for the next round of discussions, an offer President Donald Trump "has not so far shown an interest in accepting", according to sources. "Nothing [in the formulae] is definitive as exchanges are ongoing,” said the source.
“Hopefully, the two sides will reach common ground soon," the source added, saying that FM Ishaq Dar and Chief of Defence Forces and Chief of the Army Staff Field Marshal Asim Munir were "personally engaged" in the ongoing backdoor diplomacy to break the stalemate. The two have been actively participating in the mediation process, as CDF Munir has spoken to Trump several times in recent weeks. "Iran's current stance is that since the nuclear issue is a complex one and [it] requires long and comprehensive talks, the Strait of Hormuz matter should be discussed in the first phase, which is easier to resolve. The US side, however, doesn't agree with the proposal and wants an agreement on both issues concurrently," the source said. "But Trump is still discussing the proposal with his advisers," they added.
SLIM CHANCES OF WAR RESUMING: Pakistan hosted the first round of negotiations between Washington and Tehran on April 11-12, but failed to produce an agreement to end the war. The talks followed a two-week ceasefire brokered by Pakistan on April 8, which was later extended by Trump. Prime Minister Shehbaz Sharif said today that Islamabad's diplomatic efforts were continuing "consistently" to bring a negotiated settlement to the conflict, which has crippled global energy supplies and daily lives in the wider Middle East.
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Afghan shelling injures five civilians in South Waziristan border area ANGOOR ADDA
Staff CorreSpondent
Cross-border shelling from Afghanistan once again hit civilian areas near Angoor Adda in South Waziristan, leaving five people injured, including four children and a woman, local sources said on Wednesday. A mortar shell reportedly fired from the Afghan side struck the house of two residents, Karim Khan and Rehmatullah, causing injuries to children aged 13, 10, 8 and 3 years, along with an adult woman. All the injured were shifted to DHQ Hospital Wana for treatment. Residents expressed grief and anger over the incident, noting that similar cross-border firing had injured three people in the same area just days earlier. Local officials alleged that elements linked to the Afghan Taliban were behind the attack, accusing them of targeting civilian populations along the border. In response, the Pakistan Army carried out retalia-
tory strikes using light and heavy weaponry, targeting the suspected firing positions. Security sources said the attackers fled their posts following the response. The incident underscores ongoing tensions along the Pakistan-Afghanistan border, where sporadic cross-border firing continues to pose risks to civilian populations.
Prime Minister Shehbaz Sharif on Wednesday directed Pakistan Railways to ensure greater public convenience and safe rail travel across its network, while also strengthening railway freight services to boost economic activity. Chairing a meeting with Federal Minister for Railways Mohammad Hanif Abbasi, who called on him in Islamabad, the prime minister expressed satisfaction over recent steps taken by Pakistan Railways to improve passenger facilities. The meeting reviewed ongoing development projects, operational matters and progress on various initiatives aimed at improving railway infrastructure. Both sides also exchanged views on matters of mutual interest.
PM BRIEFED ON DISEASE PREVENTION MEASURES: Earlier, Minister for National Health Syed Mustafa Kamal
REACH ON US-IRAN TENSIONS: Briefing the cabinet on diplomatic efforts related to the US-Iran tensions, the prime minister recalled the first round of Islamabad Talks held on April 11–12. He said Pakistan had undertaken extensive diplomatic engagements and praised Chief of Defence Forces and Chief of Army Staff Asim Munir and Deputy Prime Minister and Foreign Minister Ishaq Dar for their efforts to restore peace in the region. “Following this, a ceasefire extension was announced,” he said, referring to the April 21 statement by US President Donald Trump. The prime minister also noted recent
and Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan called on Prime Minister Shehbaz Sharif. During the meeting, the health minister briefed the prime minister on ongoing health sector projects and special measures being implemented to prevent diseases. Haroon Akhtar Khan also apprised the prime minister of matters related to his portfolio. According to a statement issued by the Prime Minister’s Office, matters of mutual interest were also discussed. Secretary Health Aslam Ghauri was also present.
KHALID MAGSI CALLS ON PM SHEHBAZ SHARIF: Meanwhile, Minister for Science and Technology and President Balochistan Awami Party Khalid Hussain Magsi also called on Prime Minister Shehbaz Sharif on Wednesday. During the meeting, he briefed the prime minister on matters related to his ministry, including ongoing development projects.
visits to Pakistan by Iranian Foreign Minister Abbas Araghchi, who held meetings with senior Pakistani leadership, including discussions with the prime minister and military leadership on regional stability. He recalled that before returning to Iran, the visiting minister had said he would respond after consultations with the Iranian leadership. The Iranian foreign minister made two brief visits to Pakistan within two days and met both civil and military leadership to discuss the evolving regional situation. The premier also appreciated Interior Minister Mohsin Naqvi for his participation in the meetings.