Oil import bill increased by 96% in 10MFY22

LPG imports jumped by 39.86% during period under review

ISLAMABAD: The government imported oil worth $17.03 billion during the first 10 months (July-April) of the last fiscal year (10MFY22) to meet the country’s energy needs, an increase of almost 96% increase from the oil import bill compared to the same period of FY21.

“Latest data indicates that the import bill of oil has increased by 95.9% to $17.03 billion during July-April FY22 compared to US$8.69 billion during the same period last year,” according to an official document.

The surge in oil import bill has been attributed to increased import of petroleum products that went up by 121.2% in value and 24.2% in quantity.

The document said the crude oil imports rose by 75.34% in value and 1.4% in quantity. Similarly, the Liquefied Natural Gas (LNG) witnessed an increase of 82.9% in value while the Liquefied Petroleum Gas (LPG) imports also jumped by 39.86% in quantity during the period under review.

It may be mentioned here that around 75.64% of gas was domestically produced while 24.4% was imported during the period under review.

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