ISLAMABAD - The country’s oil imports have gone up by 4.5 per cent in one year, as it recorded at $4 billion during the first quarter (July-September) of the current financial year 2012-13 as compare to $3.83 billion of the same period last year 2011-12.

According to the figures of PBS, the government has spent huge amount of $4 billion on importing petroleum products during July-September period of the year 2012-13 as against $3.83 billion of July-September 2011-12 reflecting an increase of 4.49 per cent in one year period. The oil import bill might further increase in the months to come as government is mulling to close down the CNG stations in Sindh province apart from Punjab that would increase the demand of petroleum products in the country.

The break-up of petroleum products imports revealed that country has imported petroleum crude worth of $1.288 billion in first quarter of the ongoing fiscal year against $1.32 billion of corresponding period of previous year. Meanwhile other petroleum products imports have recorded at $2.713 billion in July-September period of 2012-13 as compared to $2.509 billion of July-September period of 2011-12.

According to the PBS figures, country’s food import bill has reduced by 6.35 per cent, as it registered at $1.179 billion in the first quarter of the present financial year as against $1.260 billion of the same period of previous year. Meanwhile, country has imported machinery worth of $1.357 billion in July-September 2012-13 against $1.2 billion of July-September 2011-12.

However, import of transport group have declined by 10.49 per cent, as it recorded at $441 million in first quarter of 2012-12 against $494 million of the corresponding period of last year. Similarly, textile group imports have also declined by 13.66 per cent, as it recorded at $531 million in the period under review compared to $615 million.

The PBS figures further revealed that import of agricultural and other chemicals group has registered at $1.470 billion in July-September 2012-13 against $1.893 billion of the corresponding period of preceding year. Meanwhile, import of metal group recorded at $687 million, miscellaneous at $192 million and all other items at $990 million during July-September period of 2012-13.

It is worth mentioning here that country’s imports recorded at $10.853 billion against the exports of $6.187 billion in the period under review during the first quarter (July-September) of ongoing fiscal year thus leaving trade deficit at $4.466 billion.