PIA Suspends Scheduled Flights Due To Escalating Military Situation In Gulf Countries.

PIA Suspends Scheduled Flights Due To Escalating Military Situation In Gulf Countries.

Pakistan's federal government has responded to the escalating military situation in the Gulf region by ordering emergency fuel imports and suspending scheduled flights. The decision comes amidst heightened tensions between Israel and Iran, which have led to significant disruptions in global oil supply and increased fuel prices.

The Pakistan International Airlines (PIA) has suspended all scheduled flights to and from Gulf countries, including the UAE, Qatar, Saudi Arabia, and Oman, due to the ongoing conflict and potential disruptions to the region's airspace [1]. The move aims to ensure the safety of passengers and crew while minimizing risks associated with the volatile situation.

In addition to suspending flights, the Pakistani government has instructed oil marketing companies to maintain a minimum of 20 days’ fuel reserves and ordered the immediate import of 140 million litres of petrol. This directive is part of broader efforts to mitigate the impact of the Iran-Israel conflict on Pakistan's fuel supply [1]. The Oil and Gas Regulatory Authority (Ogra) has issued an official directive to oil companies to ensure compliance with this requirement.

The Pakistan National Shipping Corporation (PNSC) has also warned that any closure or disruption in the vital shipping route could significantly impact Pakistan, which relies heavily on oil imports from the Gulf region. The PNSC officials have reported that freight rates for oil tankers have increased by up to 15% amid regional instability [1]. This increase is due to the heightened risk and operational challenges in the Strait of Hormuz, where GPS signal disruptions have caused delays and increased insurance premiums.

The Middle East has been plunged into a perilous new chapter of war following an unprecedented escalation of hostilities between Israel and Iran. Israeli strikes have so far killed at least 430 people in Iran and injured 3,500, state media reported [1]. Gulf countries, including the UAE, Qatar, Saudi Arabia, and Oman, have expressed concern and warned of major consequences following US strikes on Iranian nuclear sites [2]. These strikes have drawn criticism from countries across the globe and have further escalated the regional conflict.

The Pakistani government has ruled out any cut in the Petroleum Development Levy (PDL) and has warned that domestic fuel prices may increase in line with a 16% spike in global oil rates caused by the Iran-Israel conflict. The government is closely monitoring the situation and has formed a high-level committee to monitor petroleum prices and stockpiles [1].

The conflict between Israel and Iran has led to a significant increase in global oil prices and has caused disruptions in the supply chain. Pakistan, which is heavily dependent on oil imports, is taking proactive measures to ensure a stable fuel supply and mitigate the potential economic impact of the conflict.

References:
[1] https://www.geo.tv/latest/610266-pakistan-orders-emergency-fuel-imports-amid-iran-israel-war
[2] https://www.khaleejtimes.com/world/gulf/gcc-countries-condemn-us-attack-iran