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Energy crisis hit: Pakistan’s Punjab is in trouble Pakistan is going through a serious energy crisis these days. According to economist Mahmood Rasool, there is an acute shortage of gas in most parts of the country, especially Punjab province. The situation has become so bad that consumers are able to get gas only for a few hours a day, due to which domestic and industrial work has come to a complete standstill. The general public is suffering from this inflation and lack of supply, due to which the pressure on the government is increasing.
Iran-US peace agreement: New hope for Pakistan Pakistan’s eyes are now on possible energy deals with Iran. The temporary (60 days) relaxation in sanctions imposed by America on Iran has shown a ray of hope to Pakistan. Since America has given permission to Iran to export oil and gas with specific conditions, Pakistan is now looking to take advantage of this diplomatic opportunity. Petroleum Minister Ali Pervez Malik has clarified that efforts are being made to directly pass on the benefits of the decline in global petroleum prices to the public due to the restoration of peace in the Gulf region.
Expectation of relief in prices and challenge of the government Recently, when the conflict between America and Iran was at its peak, the price of petrol in Pakistan had reached a record of Rs 414 per liter. Currently it is at Rs 300 per liter, but the public is still hoping for more relief. The Petroleum Minister has claimed that the government is exploring options to import cheap oil and gas from Iran within the framework of international agreements and rules. However, this relaxation is temporary and will depend on the future of US-Iran negotiations. Now it remains to be seen how much relief the Shahbaz Sharif government is able to provide to the general public from inflation by taking advantage of this short-term opportunity.