Islamabad August 16 2022: Pakistan’s petroleum import bill recorded a sharp decrease during the month of July 2022 when compared to previous month as government increase prices substantially for the local consumers.
The total import bill decreased by 36.63 percent to USD 4.99 billion in July 2022 as against USD 7.87 billion in the month of June 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 61 percent to USD 1.4 billion in July 2022 compared with USD 3.6 billion in June 2022. The domestic users had to endure unprecedented increases in the prices of petroleum products.
Data released by the Pakistan Bureau of Statistics on Tuesday showed that the import of petroleum products decreased by 64 percent in value and 65 percent in quantity. Crude oil imports dip by 49 percent in value and decrease by 46 percent in quantity in July 2022.
Imports of liquefied natural gas decreased by 67 percent in value to USD 231 million from USD 700 million a month ago. Liquefied petroleum gas imports dipped by 14 percent to USD 46 million during the month of July.
