Energy imports bill drop by $627 million this year; “Pakistan’s energy basket adjusted to meet local demand while prioritizing clean and cheaper source appears to be showing results amid slowing economy”
DESPARDES — The crude oil imports into Pakistan dropped by almost 33 percent during the first quarter of current fiscal year against the same period of last year.
At the same time, the petroleum group imports into the country dipped by nearly 17 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).
The petroleum group that witnessed positive growth in imports included natural gas (liquefied) and the import of petroleum gas (liquefied).
While the former clean energy increased by almost 3 percent, the latter jumped over 29 percent.
On overall basis, the crude and petroleum products import bills reduced by $627 million.
During July-September (2019-20) the energy import bill was around $3.157 billion against the imports of $3.784 billion.
The adjustment in country’s energy basket to meet local demand while prioritizing clean and cheaper source appears to be showing results amid slowing economy, said an industry expert.