This is the second straight year that Sharif has cancelled his trip to the WEF meeting.
Sharif, who was scheduled to attend this year's meeting of the rich and the powerful at this Swiss alpine town, has cancelled the trip amid a fuel crisis brewing in Pakistan.
As per the updated WEF schedule, Sharif would not be attending the meet.
Petrol shortages hit Pakistan more than 10 days ago and long queues of cars and motorbikes were seen in front of the fuel stations despite official announcements that enough oil was available in the country.
In 2014, he had to call off the visit following a deadly Taliban attack. Sharif became Prime Minister after winning a historic election in 2013.