POL import bill declines by 13.78pc

ISLAMABAD   -  The imports of the overall petroleum group contracted by 13.78 per cent dur­ing the first six months of the current fiscal year (2023-24) compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported. The total imports of the pe­troleum group during July-December (2023-24) stood at $ 8,005.784 million against the imports of $9,285.522 mil­lion during the same period of last year.

Among petroleum commodities, the import of petroleum products declined by 24 per cent, from $ 4,202.185 mil­lion last year to $3,193,849 million during the period under review. Like­wise, the imports of liquefied natural gas (LNG) declined by 4.96 per cent from $ 1,949.704 million last year to $1,852.996 million this year where­as petroleum crude dipped by 5.94 per cent from $2,776.186 million to $2,611.179 million. The import of liquefied petroleum gas (LPG) went down by 2.69 per cent in the first six months of the current fiscal year and stood at $347.669 million compared to $357.267 in the corresponding period in 2022. Meanwhile, on a year-on-year basis, the petroleum group imports witnessed a decrease of 2.11 per cent during December 2023 as compared to the same month of last year, from $1,585.252 million to $1,551.870 mil­lion. On a month-on-month basis, the petroleum imports into the country increased by 8.91 per cent during De­cember 2023, compared to the imports of $1,424.903 million in November 2023, according to the PBS data.

GOLD IMPORTS FALL BY 6.02PC TO $13.5M IN 1ST HALF

The imports of gold decreased by 6.02 percent during the first half of the cur­rent fiscal year as compared to the cor­responding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during the July-December (2023-24) were recorded at $13.562 million as compared to the imports of $14.431 million during July-December (2022-23), according to PBS data. In terms of quantity, Pakistan imported 240 kilograms of gold during the period under review as compared to the im­ports of 239 kilograms last year, show­ing increase of 0.54 percent.

On year-on-year basis, the gold im­ports decreased by 76.06 percent in De­cember as compared to the same month of last year. The gold imports during De­cember 2023 were recorded at $0.780 compared to imports of $3.259 million. In terms of quantity, the gold imports de­clined by 75 percent to 12 kilograms in December 2023 as compared to the im­ports of 48 kilogram during December 2022 2023. On month-on-month basis, the gold imports during December 2023 decreased by 79.99 percent when com­pared to the imports of $3.899 million in November 2023. In terms of quantity, the gold imports declined by 80 percent when compared to the imports of 60 ki­logram during November 2023.

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