Pakistan witnessed a significant increase in the consumption of petroleum products during the current fiscal year, according to the Economic Survey 2024-25 released by the government on Monday.

The report reveals that petroleum consumption increased by 12.5% despite a global decline in oil prices.

The country imported 12.53 million metric tons of petroleum products during the ongoing fiscal year, compared to 11.14 million metric tons in the previous year -- marking a notable rise in energy demand driven by economic activity, industrial usage, and transportation needs.

Despite the fall in international oil prices, Pakistan’s petroleum import bill remained high at $8.4 billion, highlighting the continued reliance on fossil fuel imports to meet domestic energy demands.

Also Read: Pakistan records 2.7% GDP growth in 2025: Fin min releases economic survey

Meanwhile, Finance Minister Muhammad Aurangzeb on Monday said Pakistan’s economy grew by 2.7% in 2025 while releasing the National Economic Survey 2024–25 during a press conference.

He said the growth rate in 2023 was -0.2 and in 2024 it was 2.5%. "Inflation has come down from 29% to 4.5%," he claimed.

"The policy rate has been reduced from 22% to 11%, while the debt-to-GDP ratio has improved, falling from 68% to 65%. The economic recovery, which began in 2024, has continued into 2025. At the global level, there has been a slowdown in overall GDP growth, but Pakistan’s performance must be viewed within this broader context," he said.

"In the energy sector, efforts are under way to eliminate both legacy issues and ongoing leakages. The state-owned enterprises (SOEs) continue to pose a challenge, with losses amounting to Rs800billion," he said.