POL import bill falls 22.8pc in July-Nov period

ISLAMABAD: The imports of overall petroleum group declined by 22.78 per cent during the first five months (July-Nov) of the current financial year (FY21) as compared to the corresponding period of last year.

According to data issued by the Pakistan Bureau of Statistics (PBS) on Tuesday, during the period under review, the total imports of the petroleum group stood at $3.946 billion, as against the imports of $5.110 billion last year.

The commodities that contributed to the decrease of petroleum imports included petroleum products, imports of which declined by 16.5pc, from $2.174 billion to $1.815 billion.

Meanwhile, on a year-on-year (YoY) basis, petroleum group imports decreased by 16.4pc during the month of November as compared to the same month of last year.

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The petroleum imports during November 2020 were recorded at $777.981 million against the imports of $930.396 million in November 2019.

On a month-on-month (MoM) basis, petroleum imports decreased by 7.44pc during November 2020 as compared to the imports of $840.484 million in October 2020, the data revealed.

 

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