The current fiscal year has witnessed a drop in petroleum imports by 24.60% in Pakistan. The imports this year is reported to amount to $1,523,047/-
During July-Aug this year, imports of petroleum products reduced by 16.38%, worth $751,383 thousand as compared to the imports valuing $897,365 thousand of the same period of last year, it added.
There’s also a decline in petroleum crude imports decreased by 7.52%, worth $443,785 as compared to the imports of valuing $479,850 of the corresponding period of last year.
According to reports, the Pakistan Bureau of Statistics (PBS), petroleum imports were $2,020,015 in the fiscal year 2019-20. While this year the import in the current fiscal year is $1,523,047 of the same period of the current financial year.
Not only there is a decline in petroleum products, but it’s also reported the machinery to liquefy gas and other related devices also witnessed a drop in the import. The import is said to be of 54.51%, valuing at $273,28. Last year, the imported value of the types of machinery was $600,825.