Oil import bill shrinks by 20.90pc

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Islamabad

The country’s oil import bill witnessed reduction of 20.90 percent during the first seven months of the current fiscal year as compared to the corresponding period of last year.

The oil imports during July-January (2020-21) were recorded at $5640.751 million against the imports of $7131.451 million during July-January (2019-20), showing decline of 20.90 percent, according to latest data by Pakistan Bureau of Statistics (PBS).

The commodities that contributed in decline of oil import bill included, petroleum products, the imports of which decreased by 15.33 percent, from $3011.154 million last year to $2549.674 million during the current fiscal year.

Likewise, the imports of petroleum cured decreased from $2084.224 million to $1542.401 million, a decline of 26 percent while the imports of natural gas (liquefied) went down by 31.07 percent, from $1850.082 million to $1275.240 million.—APP

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