POL import bill contracts by 8.8% in 1st half of fiscal year

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The imports of the overall petroleum group contracted by 8.80 percent during the first half of the current fiscal year (2022-23), as 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 (2022-23) stood at $9,285.534 million, as against the imports of $10,181.765 million during the same period of last year, according to PBS data.

Among petroleum commodities, the import of petroleum products declined by 16.90 percent, from $5,056.557 million last year to $4,202.187 million during the time period under review.

Likewise, the imports of liquefied natural gas declined by 18.72 percent, from $1,949.704 million this year against the imports of $2,398.661 million recorded during the corresponding period of last year.—APP