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Summary Pakistans oil import bill has reached to $ 13 billion which is a huge burden on the economy.
According to the sources in the ministry of Petroleum and Natural Resources, the government is pursuing policies of attracting private investment in the energy sector during current financial year to end reliance on the import of crude oil and petroleum products.Pakistan’s primary energy supplies heavily depend upon the imported crude oil and petroleum products due to which the country’s oil import bill is about $ 13 billion which is a huge burden on the economy.Sources told the government wants to replace the imported furnace and diesel oil with alternate fuels in a sustainable manner at competitive prices with a greater reliance on indigenous resources. Moreover, initiatives like import of piped gas, LNG and LPG as alternative fuels were taken.Sources further told that the energy sector debt was threatening the entire supply chain from oil refineries, oil marketing companies (OMCs) to power producers.
