Pakistan spends 5pc less on crude oil imports in first 11 months
Business
Pakistan spends 5pc less on crude oil imports in first 11 months
ISLAMABAD (Dunya News) - Pakistan has imported five per cent less crude oil into the country during the first 11 months of the current financial year 2022-23 compared to the corresponding period of last year.
According to the Pakistan Bureau of Statistics (PBS), the foreign exchange spent on the import of oil is $4.523 billion which is five per cent less than the import of crude oil during the same period last year.
The report said the country imported crude oil worth $4.760 billion during the last financial year while the total import of crude oil stood at $385 million in May 2023 compared to $529 million last year, which is 29 per cent less.
A mega reduction of 39 per cent was recorded in the import of crude oil in April 2023 as the total foreign exchange spent on the import of oil stood at $277 million which touched $385 million in May.
