Oil Import Bill Increased By 96% In 10 Months

Oil import bill increased by 96% in 10 months

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Jul, 2022 ) :The government has imported oil worth $ 17.03 billion during the first 10 months (July-April) of the last fiscal year to meet energy needs of the country, which showed almost 96 percent increase in the oil import bill as compared to the same period of 2020-21.

"Latest data indicates that the import bill of oil has increased by 95.9 per cent to US$17.03 billion during July-April FY2022 compared to US$8.69 billion during the same period last year," according to an official document available with APP.

The surge in oil import bill has been attributed to increased import of petroleum products that went up by 121.

15 per cent in value and 24.18 per cent in quantity.

The document said the crude oil imports rose by 75.34 percent in value and 1.4 percent in quantity. Similarly, the Liquefied Natural Gas (LNG) witnessed an increase of 82.90 percent in value while the Liquefied Petroleum Gas (LPG) imports also jumped by 39.86 percent in quantity during the period under review.

In the 10-month period, around 75.64 percent of gas was domestically produced while 24.36 percent of gas was being imported.

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