Pakistan spent around $128 billion on energy imports between FY20 and FY26, with more than 90 percent of the bill going towards fossil fuels, according to the Renewables First Pakistan Energy Market Review 2026 (PEMR26).
The report estimates that fossil fuel imports cost the country approximately $117 billion during the six-year period, while imports of renewable energy equipment accounted for only $11 billion.
Fossil fuel imports included crude oil, refined petroleum products, coal and liquefied natural gas (LNG). Renewable energy equipment covered solar panels, wind turbines, inverters and lithium-ion batteries.
Although Pakistan’s imports of renewable energy technology have increased considerably since FY20, their overall value remains far below spending on fossil fuels.
The report highlights the country’s continued dependence on imported fuels, which leaves its energy bill exposed to fluctuations in international commodity prices and potential supply disruptions.
The heavy reliance on fossil fuel imports also puts pressure on foreign exchange reserves, as Pakistan continues to spend a substantial amount of its import budget on energy sources purchased from international markets.
