Petroleum import reduces while LNG import registers huge increase

Petroleum import reduces while LNG import registers huge increase
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ISLAMABAD (APP): 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.

Country spent US$ 1.48 billion on the import of petroleum group import during the period from July-August, 2016 as compared to the import of US$ 1.73 billion of the same period of last financial year, according the data of Pakistan Bureau of Statistics.

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During the period under review import of crude petroleum decreased by 51.57 percent as it was recorded at 1,116,203 million tons valuing US$ 304.257 million as compared to the import of 915,726 million tons of US$ 628.217 million of same period of last year.

However, the import of natural gas liquified witnessed 115.54 percent increase in first two months of current financial year as it NLG worth US$ 167.938 million import as against the import of US$ 77.915 million of same period last year.

Meanwhile, the petroleum gas liquified import also grew by 58.06 in two months as country spent 23.464 million on the import of above mention commodity as compared to the import of US$ 14.84 million of same period of last year.

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From July-August, 2016, import of others petroleum products shrink by 25.84 percent as compared to the imports of the corresponding period of last financial year,it added.

On month-on-month basis, import of petroleum group decreased by 23.22 percent in month of August, 2016 as compared to the same month of last year, where as petroleum products import went down by 4.94 percent and petroleum crude by 70.13 percent respectively.

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