POL import bill shrinks by 16.93% in four months


ISLAMABAD, Nov 21 (APP): The imports of the overall petroleum group contracted by 16.93 percent during the first four months of the current fiscal year (2023-24) as compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported.

The total imports of the petroleum group during July-October (2023-24) stood at $ 5,029.011 million against the imports of $ 6,054.086 million during the same period of last year

Among petroleum commodities, the import of petroleum products declined by 23.99 percent, from $ 2,844.091 million last year to $2,161.833 million during the period under review.

Likewise, the imports of Liquefied Natural Gas (LNG) declined by 7.10 percent from $ 1,266.662 million last year to $ 1,176.718 million this year whereas petroleum crude dipped by 13.92 percent from $ 1,727.344 million to $ 1,486.957million.

The import of Liquefied Petroleum Gas (LPG) went down by 5.75 per cent in the first four months of the current fiscal year and stood at $203.463 million as compared to $215.884 in the corresponding period in 2022.

Meanwhile, on a year-on-year basis, the petroleum group imports witnessed an increase of 28.54 percent during the month of October 2023 as compared to the same month of last year, from $ 1,188.107 million to $1,527.147 million.

On a month-on-month basis, the petroleum imports into the country also increased by 14.76 percent during October 2023, as compared to the imports of $ 1,330.750 million in September 2023, said the data.

APP Services