KARACHI: Pakistan has dumped over half a million metric tonnes of furnace oil (FO) abroad in the first four months of FY26 as domestic demand collapsed under crippling levies and power sector rejection, industry data reveals. Exports hit 452,787 tonnes of high-sulphur FO and 54,302 tonnes of low-sulphur, with monthly shipments exploding from 69,625 tonnes (July) to 208,000 (August), dipping to 27,355 (September), then rebounding to ~200,000 (October). FO sales plunged 27% to a pitiful 0.07 million tonnes (Jul–Oct) from 0.27 million last year. The power sector barely touched FO, generating a measly 48 MW in October (vs 9,886 MW total) — 51% down from September. Industry insiders blame the budget’s Rs82,077/tonne petroleum levy + Rs2,665 CSL, jacking local prices and killing demand. Refineries are forced to export despite unattractive global rates, with brownfield policy delays worsening the glut.
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