On September 19, 2023, Islamabad, Pakistan unveiled a meticulously calculated pricing regime for petroleum commodities, slated for enforcement throughout the remainder of this month.
Karachi, September 17, 2023 – Pakistan’s import of petroleum products has seen a substantial decline of 41 percent during the first two months of the fiscal year 2023-24, according to official statistics released by the Pakistan Bureau of Statistics (PBS).
Islamabad, September 11, 2023 – Pakistan has formally established regulations governing the import of petroleum products under the account of foreign suppliers. The Ministry of Commerce has promulgated a Statutory Regulatory Order (SRO) to this effect.
Karachi, September 2, 2023 – Pakistan’s total petroleum sales for August 2023 reached 1.41 million tons, marking an 8 percent year-on-year (YoY) decline.
Islamabad, July 20, 2023 – Pakistan’s import bill for petroleum products witnessed a significant decline of 37 percent during the fiscal year 2022-23, as per official statistics released by the Pakistan Bureau of Statistics (PBS).
Karachi, July 12, 2023 – The Pakistan Petroleum Dealers Association (PPDA) has raised concerns over the detrimental effects of an influx of smuggled petroleum products on the sales of petrol pumps across the country.
Islamabad, June 18, 2023: Pakistan has taken significant measures to reduce its petroleum subsidy by 47 percent for the upcoming fiscal year 2023-24, according to official budget documents released recently.
Islamabad, June 16, 2023 – The import bill for Pakistan’s petroleum group has experienced a significant decline of 22% due to falling international oil prices and reduced domestic demand.
Following the last update on May 1, the daily petroleum prices in Pakistan for May 2023 have remained unchanged, offering stability to consumers. The current prices will be effective until May 15, 2023.
According to data released by the Pakistan Bureau of Statistics (PBS), the import of petroleum products has declined by 20% during the first nine months (July-March) of the current fiscal year 2022-2023.