Inside Financial Markets

‘Petroleum import down by 13.61% in 2 months’

The petroleum group import in the country during first two months of current financial year decreased by 13.61 percent, as compared to imports of the corresponding period of last year. According to the data of Pakistan Bureau of Statistics (PBS), the country spent $1.48 billion on the import of petroleum group import during the period from July-August this year, as compared to the import of $1.73 billion of the same period of last financial year.

During the period under review, import of crude petroleum decreased by 51.57 percent, as it was recorded at 1,116,203 million tonnes worth $304.257 million, as compared to the import of 915,726 million tonnes of $628.217 million for the same period of last year, it said. However, the import of liquefied natural gas (LNG) witnessed 115.54 percent increase in first two months of current fiscal year, as LNG worth $167.938 million import against the import of $77.915 million of the same period last year, it added.

According to PBS data, the petroleum gas liquified import also grew by 58.06 percent in two months, as country spent $23.464 million on the import of above mentioned commodity, as compared to the import of $14.84 million for the same period of last year. The import of others petroleum products from July-August this year shrink by 25.84 percent as compared to the imports of the corresponding period of last financial year, it said.

The import of petroleum group, on month-on-month basis, decreased by 23.22 percent in the month of August this year, as compared to the same month of last year, whereas the petroleum products import went down by 4.94 percent and petroleum crude by 70.13 percent respectively, the data added.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)