Fozia Azam

Pakistan’s imports of all petroleum products decreased by 9.27% during the first seven months of the current fiscal year (2022-23) compared to the same period the previous year. According to the Pakistan Bureau of Statistics (PBS), the petroleum group imported a total of $10,611.740 million from July to January (2022-23) as opposed to $11,696.009 million during the same period the previous year. On a year-on-year basis, the imports of petroleum products decreased 14.73% from $5,734.241 million to $4,889.800 million.

The imports of liquefied natural gas also decreased by 20.84% from $2,769.741 million last year to $2,192.489 million this year. Nonetheless, substantial development was seen in the imports of petroleum crude, which jumped by 10.90% from $2,795,867 million to $3,100,482 million last year, and liquefied petroleum gas, which increased by 8.26% from $395,977 million to $428,687 million.

The imports of all other petroleum products grew 54.08% from $0.183 million to $0.282 million. In contrast, the imports of the petroleum group fell by 12.42% in January 2023 when compared to the same months in the previous year. Compared to January 2022, when petroleum imports were $1,514.244 million, January 2023 saw petroleum imports of $1,326.208 million.The country's petroleum imports fell by 16.34% month over month in January 2023, compared to $1,585.263 million in December 2022.

Credit: Independent News Pakistan-WealthPk