Heavy reliance: Oil import bill swells to $13b

Pakistan reliance on crude oil is prevailing in the country as oil import bill has touched $13 billion.


July 16, 2012

ISLAMABAD: Pakistan reliance on crude oil is prevailing in the country as oil import bill has touched $13 billion, a huge burden on the economy. Sources at the Ministry of Petroleum and Natural Resources said that to end reliance on the import of crude oil and petroleum products, the government is pursuing policies of attracting private investment in the energy sector during the current financial year 2012-13. Pakistan’s primary energy supplies heavily depend upon the imported crude oil. Sources told that the government wants to replace the imported furnace and diesel oil with alternate fuels in a sustainable manner and at competitive prices with a greater reliance on indigenous resources. Moreover, initiatives like import of piped gas, Liquefied Natural Gas and Liquefied Petroleum Gas as alternative fuels were taken. The present energy scenario suggests that an affordable and sustainable energy road map for the country is essential to capitalise on the use of indigenous resources in the country’s energy mix.

Published in The Express Tribune, July 17th, 2012.

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