KARACHI: Petroleum import bill fell to $11.88 billion in first eight months (July – February) of fiscal year 2022/2023, according to data released by Pakistan Bureau of Statistics (PBS).
The petroleum import bill of the country recorded a decline of 8.28 per cent to $11.88 billion during eight months of the current fiscal year as compared with $12.95 billion in the corresponding months of the last fiscal year.
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However, on the flip side the massive depreciation in Pakistan Rupee (PKR) resulted in the import bill by 23 per cent. In rupee term, the petroleum bill increased to PKR 2.72 trillion during first eight months of the current fiscal year as compared with PKR 2.21 trillion in the same months of the last fiscal year.
In the petroleum group, the import of petroleum products registered a decline of 14.47 per cent to $5.35 billion during July – February 2022-2023 when compared with $6.26 billion in the same period of the last fiscal year.
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However, import of petroleum crude recorded an increase of 10.32 per cent to $3.48 billion during first eight months of the current fiscal year as compared with $3.16 billion in the corresponding months of the last fiscal year.
The country has import liquefied natural gas (LNG) worth $2.55 billion during the period under review as compared with $3.08 billion during eight months of fiscal year 2021-2022, showing a decline of 17.19 per cent.
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Meanwhile, the import of Liquefied Petroleum Gas (LPG) recorded an increase of 8.17 per cent to $489 million during July – February 2022-2023 when compared with $452.52 million in the corresponding period of the last fiscal year.
