POL sector imports show declining trend

LPG import sees upward trend during July-April period

ISLAMABAD:

The import of petroleum products as well as the petroleum group as a whole dropped in the first 10 months of the current fiscal year, data released by the Pakistan Bureau of Statistics (PBS) has showed.

According to a report issued by the Pakistan Bureau of Statistics, during the July-April period of fiscal 2022-23, the imports of the petroleum products decreased by 28.07%, while the total imports in the petroleum group went down by 17.96%, compared with the same period of the last fiscal year.

In the first 10 months of the 2022-23, the imports in the petroleum group valued at $13.98 billion which was 18% less than the imports worth $17.03 billion during the same period in 2021-22.

According to the PBS report, the import of crude oil fell by 1.98% from $4,221.208 million to $4,613.277 million. The import of liquefied natural gas (LNG) also fell by 16.06% from $3,705.959 million last year to $3,110.836 million this year.

On the other hand, the PBS report said, the liquefied petroleum gas (LPG) saw growth. The LPG imports increased by 3.53% to reach $576.618 million from last year’s $556.962 million, the PBS data showed.

According to the report, a significant decrease of 59.91% was observed in the imports of petroleum group during the month of April 2023 compared to the same month of the previous year.

In April, the petroleum group import was recorded at $891.468 million, against $2,223.515 million in April 2022. On a month-on-month basis, the petroleum imports also declined by 26.11% during April 2023.