Oil, eatables imports decline

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ISLAMABAD : Country’s import bill for oil and eatables fell by over five per cent in 2012-13 from a year ago, suggested data issued by the Pakistan Bureau of Statistics on Friday.

 

In absolute terms, import of these two commodities fell to $19.104 billion in July-June 2012-13 from $20.245bn over the corresponding period of last year.

 

As a result of this decline, overall imports during the period under review witnessed a paltry growth of 0.08 per cent.

 

The food groups emerged second after oil import bill in the period under review, but its bill declined by over 16.14pc to $4.187bn in July-June period this year from $4.993bn over the corresponding period of last year.

 

Within food group import, import of milk, palm oil, sugar, pulses and all other food items witnessed a decline during the period under review.

 

Only two food items — spices and soyabean oil — witnessed increase during the period under review over last year.

 

Statistics showed that oil import bill reached $14.917bn in July-June 2013 period this year as against $15.252bn over the previous year, indicating a decline of 2.20pc.

 

Of these, import of crude oil was up by 8.70pc to $5.392bn in July-June period this year as against $4.960bn previous year.

 

The rise in import of crude oil shows that refineries have picked up operations.

 

As a result, the share of domestic petroleum also increased in the total petroleum products consumption.

 

The domestic refineries are now utililising almost their 90pc capacity.

 

Contrary to this, import of petroleum products dipped by 7.45pc to $9.525bn in July-June period this year as against $10.292bn over the same period of last year.

 

The second biggest factor for drop in demand for import of petroleum products was diversification of petroleum products produced in the domestic product.

 

The petroleum products, excluding top naphata and petroleum top naphta manufactured in the domestic market, witnessed a substantial decline in exports in the outgoing fiscal year 2012-13.



Courtesy:  Dawn


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