ISLAMABAD: Pakistan’s oil import bill witnessed a reduction of 20.90pc during the first seven months of the current fiscal year on a year-on-year (YoY) basis.
Oil imports during July-January 2020-21 were recorded at $5,640.751 million against the imports of $7,131.451 million during July-January 2019-20, according to latest data released by Pakistan Bureau of Statistics (PBS).
The commodities that contributed to the decline included petroleum products, imports of which decreased by 15.33pc, from $3,011.154 million last year to $2,549.674 million during the current fiscal year.
Likewise, the import of petroleum cured decreased from $2,084.224 million to $1,542.401 million, a decline of 26pc, while the imports of natural gas (liquefied) went down by 31.07pc, from $1,850.082 million to $1,275.240 million.
On the other hand, imports of petroleum gas (liquefied) increased from $185.801 million to $273.356 million, showing a growth of 47.12pc.
The import of all other oil products decreased by 57.89pc, from $0.190 million to 0.080 million.
Meanwhile, on a year-on-year basis, the oil import bill shrunk 12.13pc to $869.290 million in January 2021 when compared to the imports of $989.225 million in January 2020, the data revealed.
However, the imports during January 2021 increased by 5.39pc when compared to the imports of $824.862 million in December 2020.
