ISLAMABAD   -  The imports of the overall petroleum group contracted by 12.06 percent during the first seven months of the current fiscal year (2023-24) as compared to the corresponding period of the last year, the Pakistan Bureau of Statis­tics (PBS) reported. The total imports of the pe­troleum group during July-January (2023-24) stood at $9,332.322 million against the imports of $10,611.727 million during the same period of last year. Among petroleum commodities, the import of petroleum products declined by 25.94 percent, from $4,889.799 million last year to $3,621.420 million during the period under review year whereas petroleum crude import dipped by 3.96 percent, from $3,100.481 mil­lion to $2,977.671 million. However, the im­ports of liquefied natural gas (LNG) increased by 4.82 percent, from $2,192.489 million last year to $2,298.144 million, while the import of liquefied petroleum gas (LPG) went up by 1.47 per cent in the first seven months and stood at $434.991 million as compared to $428.687 in the corresponding period in 2022-23.

Meanwhile, on a year-on-year basis, the pe­troleum group imports witnessed an increase of 0.03 percent during the month of January 2024 as compared to the same month of last year, from $ 1,326.205 million to $1,326.540 million. On a month-on-month basis, the pe­troleum imports into the country decreased by 14.52 percent during January 2024, as compared to the imports of $ 1,551.870 mil­lion in December 2023, said the data.