Islamabad October 18 2022: Pakistan’s petroleum import bill recorded decrease of 16.2 percent during the month of September 2022 when compared to previous month as government increase prices substantially for the local consumers amid unprecedented monsoon season.
The total import bill decreased by 11.93 percent to USD 5.3 billion in September 2022 as against USD 6.0 billion in the month of August 2022.
The decrease in imports of petroleum products will provide support to falling reserves and restore rupee parity against dollar.
The oil import bill decreased by 16.2 percent to USD 1.56 billion in September 2022 compared with USD 1.86 billion in August 2022. The domestic users had to endure unprecedented increases in the prices of petroleum products in times of unprecedented floods.
Data released by the Pakistan Bureau of Statistics on Tuesday showed that the import of petroleum products decreased by 21.54 percent in value to USD 730 million band 18.14 percent in quantity 1.03 mn tons. Crude oil imports dip by 4.84 percent in value to USD 450 million and decrease by 0.71 percent in quantity to 635k tons in September 2022.
Imports of liquefied natural gas decreased by 14.69 percent in value to USD 340 million from USD 399 million a month ago. Liquefied petroleum gas imports dipped by 31.98 percent to USD 43 million during the month of September.