Islamabad: Pakistan’s power sector has witnessed a significant decline in petroleum consumption, with a reduction of over 600% in the last two fiscal years. In FY 2021-22, the sector consumed 3.68 million metric tons of petroleum, but this figure dropped to only 607,000 metric tons in FY 2023-24.
The trend extended to the national consumption of petroleum products, which decreased by 575,000 metric tons year-over-year, with FY 2022-23 seeing 17.49 million metric tons used, compared to 16.9 million metric tons in FY 2023-24. The industrial sector also registered a decline, with consumption dropping by over 50,000 metric tons in the same period.
Additionally, the transport sector saw a substantial reduction in petroleum usage. In FY 2021-22, this sector consumed 17.4 million metric tons, which decreased to 13.4 million metric tons by FY 2023-24. The local demand for petroleum products has seen a downward trend over the past six years, with a cumulative decline of 28,000 metric tons, reflecting a shift towards more sustainable energy practices.
