Islamabad May 15 2022: Pakistan’s oil import bill surged by 95.84 per cent to $17.03 billion in the July-April period compared to $8.69 billion in the corresponding period last year owing to higher international prices.
The country’s overall import bill increased by 46.51 percent to $65.54 billion in 10MFY22 against $44.73 billion in the corresponding period last year.
The share of the petroleum group in total import bill also rose to 25.98 pc in 10MFY22. The steady increase in import bill of petroleum products is triggering trade deficit and pose a threat of exerting pressures on the external side of the government.
Data released by the Pakistan Bureau of Statistics showed that the import bill of petroleum products increased by over 121.15 percent to $8.54 billion in 10MFY22 from $3.86 billion over the corresponding period of last year.
Further breakup showed that the import of petroleum crude went up by 75.34 percent in value and 1.36 percent in quantity. Crude oil imports rose to $4.22 billion during the period under review while those of liquefied natural gas increased by 82.90 percent in value to $3.70 billion. Liquefied petroleum gas imports jumped by 39.86 percent in value to $556 million in 9MFY22.