Karachi: The country’s petrol imports rose 5 per cent to 5.125 million tonnes in 2017-18 from 4.88m tonnes in 2016-17, while diesel imports dropped marginally to 3.84m tonnes versus 3.9m tonnes.

Sales of diesel and petrol rose by 6pc and 11pc to 9m tonnes and 7.396m tonnes in FY18 from 8.537m tonnes and 6.675m tonnes in FY17.

Surging sales of cars, bikes and three wheelers coupled with improving import of used cars has contributed towards rising imports of petrol.

Oil Companies Advisory Council (OCAC) forecast petrol demand to swell to 8.784m tonnes by 2019-20 from 7.986m tonnes in 2018-19 on the assumption of 10pc growth per annum from 2016 onward.

Pakistan’s import bill for various petroleum products and crude oil was around $13 billion in 2017-18 due to crude oil price hovering at $75 a barrel as against $60 a barrel last year.

Published in Dawn, July 15th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...