Import bill of POL products now highest in country’s history

By: News Desk
Published: 04:13 PM, 18 Jun, 2022
Import bill of POL products now highest in country’s history
Caption: Representational image.
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The country’s economy is facing yet another issue and that is the import bill of the petroleum (POL) products is now the highest in the country’s history, reported 24NewsHD TV channel on Saturday.  

The import bill recorded in May 2022 was 123 per cent up than what it was in the same month last year.  

The bill, which in May 2021 stood at $1.18 billion, rose to $2.64 billion in the last month.  

Compared with April 2022, the import of petroleum products increased by 19 per cent in May 2022.

While in April, POL products worth $2.22 were imported, in May the figures stood at $2.64 billion. 

In May 2022, the price of Arab Light Crude Oil went up by 65 per cent.    

Similarly, the import volume of these products in the same month upped by 31 per cent.  

The import of crude oil in May 2022 was 70 per cent higher than May 2021, and stood at $53.90 million. 

Similarly, the import of RLNG increased by 111 per cent in May 2022 compared with what it was in the same month in the preceding year, and was recorded at $58.4 million.

Likewise, the import bill has registered 99 per cent increase in 11 months of the ongoing financial year (FY) to reach $19.67 billion, for the first time in the country’s history

It was $9.88 billion during the same period in the last FY. 

Reporter: Ashraf Khan