ISLAMABAD: The finance ministry told the National Assembly on Friday that the ongoing Middle East conflict, particularly disruptions in the Strait of Hormuz, poses an external risk for Pakistan given its reliance on imported energy.
In a written reply to a question of Dr Sharmila Faruqui, the ministry stated that International oil prices have risen sharply, with Brent crude increasing from $62.7 per barrel in December 2025 to $103.7 in March 2026, and remaining above $100 amid continued geopolitical uncertainty.
It stated that such oil price shocks transmit through higher import costs, freight charges, and insurance premiums, creating upward pressure on domestic energy prices and production costs.
However, inflation remains contained, averaging 6.2 per cent during Jul-Apr FY2026, well below the 7.5pc target for FY2026, and is expected to remain within this target as the government is committed to mitigating the pass-through of higher global oil prices.
On growth, the finance ministry told the National Assembly that the near-term impact is expected to be limited due to lagged transmission and continued economic momentum.
The GDP growth has remained resilient and provisionally recorded at 3.7pc in FY2026 against the target of 4.2pc and contributed by 2.9pc growth in agriculture sector, 3.5pc growth in industrial sector and 4.1pc growth in services sector.
The primary surplus targets for FY26 and FY27 will be met through a prudent fiscal policy centred around expenditure rationalisation and optimal revenue mobilisation.
On the expenditure side, general subsides are being phased-out and replaced with targeted subsidies. Non-essential expenditures have been curtailed and a comprehensive austerity plan is in place to ensure that expenditures are kept to bare minimum.
The revenue mobilisation drive of the government covers both policy and enforcement measures.
It is also important to note that provincial governments also contribute towards achievement of primary surplus targets through surpluses.
In a written reply to another question of Tahir Iqbal, the finance ministry told the National Assembly that total amount available with the SBP related to unclaimed deposits surrendered by banks as of April 27, 2026 is Rs100.59 billion.
It stated that a list of accounts surrendered by each bank along with particulars of the account holders is published on the SBP website as well as on the website of the relevant banks.
Tahir Iqbal asked whether certain dormant accounts have remained unclaimed by heirs, if so, what is the total amount presently held in said accounts in each bank at present.
The finance ministry stated in a written reply that as per Section 31 of Banking Company Ordinance 1962, a debt payable in Pakistan currency or any other currency owed by a banking company by reason of a deposit, not being a deposit in the name of a minor or a government or a court of law, in respect of which no transaction has taken place and no statement of account has been requested or acknowledged by the creditor during a period of 15 years, are considered unclaimed deposits.
Further, all banks/DFIs in Pakistan are required to surrender these unclaimed deposits to the SBP as per the said clause.
Likewise, funds related to all instruments (e.g. pay order, demand drafts, bankers cheques, etc.) that have not been paid during the period of 15 years are also required to be surrendered to SBP.
The unpaid funds related to instruments issued in favour of government, are also required to be surrendered to the SBP.
The list of accounts surrendered by each bank along with particulars of the account holders is published on the SBP website as well as on the website of the relevant banks.
The year wise list of unclaimed accounts/ funds can be accessed at the SBP website and the amounts which are surrendered to SBP are allowed to be claimed back by the account holders/ legal heirs.
The claimants lodge their claims through their respective banks.
The banks, after scrutiny and due diligence forward the claims to the SBP, which are then paid to the claimants.
It may be noted that total amount available with the SBP related to unclaimed deposits surrendered by banks as of April 27, 2026 is Rs100.59 billion.
