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