Petroleum products import bill up 66pc

ISLAMABAD — Pakistan's import bill of petroleumproducts alone has risen by 66.59 per cent to $6.662 billion during the fiscalyear 2005-06 as against $3.999 billion in the same period last year.

By From A Correspondent

Published: Thu 3 Aug 2006, 12:31 PM

Last updated: Sat 4 Apr 2015, 2:04 PM

Theshare of oil in total country's import bill rose to 23.30 per cent. Accordingto the latest official figures, the import bill of petroleum products, machineryand agriculture implements registered a big growth during the fiscal year2005-06, over the same period last year.

In totalPOL imports, the share of petroleum crude rose by 76.56 per cent to $3.793billion during the period under review as against $2.148 billion in thecorresponding last year.

This revealedthat this year, the import bill of oil products has almost doubled during theyear 2005-06 over last year due to highest ever increase upto $75 per barrel inthe oil price in intentional market.

With thisraise in oil prices, the total import bill reached $28.581b during the year2005-06 as against $20.598 billion in the last year, indicating an increase of38.76 per cent.

Thisraise in import bill has widened the trade deficit to $12.112b during the yearunder review as against $6.207 billion over the last year. The export remainedat $16.468b during the year under review.

According tothe Federal Bureau of Statistics (FBS), the second biggest component of theimport bill was of machinery group which recorded a growth of 34.33 per cent to$7.949 billion during the year 2005-06 as against $5.918 billion last year.

Of theseimport of road motor vehicles registered a robust growth of 50.94 per cent invalue. The import bill of agriculture implements increased by 82.74 per cent,electrical machinery and apparatus 38.20 per cent, power generating machinery22.95 per cent, construction and mining machinery 32.23 per cent and officemachines by 3.78 per cent.

However, theimport of textile machinery declined by 16.92 per cent.

The import ofconsumer goods rose by 37.15 per cent to $1.932 billion during the fiscal year2005-06 as against $1.408 billion over the last year.

Of consumergoods, the import of wheat rose by 42.76pc, sugar 496.39pc, dry fruits 35.73pc,milk products 62.63pc and pulses by 36.73pc.

However, teaimports declined by 1.07 per cent.

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