ISLAMABAD: Pakistan’s energy import bill has declined by 10.8 percent to $31.431 billion during July to February of the ongoing FY2022-23 from $35.238 billion during the same period last fiscal year, official data exclusively available with this scribe reveals.
The import of LNG has declined by 16.4 percent to $2.579 billion during July- February of the ongoing fiscal from $3.087 billion in the previous year, official data available with Wenews suggests.
Similarly, the import of petrol, high-speed diesel (HSD) and furnace oil recorded a decline of 13.1 percent, 7.4 percent and 37.3 percent respectively during the time under review. The import of petrol declined to $3.027 billion from the $3.482, HSD to $1.648 billion from $1.780 billion and furnace oil to $400 million from $638 million during the period under review.
The import of other petroleum oil and products recorded a slump of 13.6 percent to $5.390 billion during first eight months of the FY 2022-23 from $6.238 billion during the same period last fiscal.
The import of energy products has declined by 10.2 percent from $14.669 billion in July to February 2021-22 to $13.178 billion in the same period of the ongoing fiscal year. The import of coal & products recorded a decline by 28.4 percent from $1.759 billion during July to February 2021-22 to $1.259 billion during the same period of the ongoing fiscal year.
However, the imports of crude petroleum, LPG and electrical energy recorded an increase of 10.8 percent, 6.3 percent, and 9 percent respectively. The import of crude petroleum jumped to $3.426 billion during July to February 2022-23 as compared to $3.093 billion during the same period last fiscal.
The import of LPG increased to $ 488 million from the previous $459 million, while the import of electrical energy increased from $33 million to 36 million during the first eight months of the ongoing fiscal year, the data said.
Pakistan facing difficulties in bearing heavy energy import bill
Pakistan is currently facing difficulties in bearing heavy energy import bill amid challenges to the economy. In a situation when the country’s economy is facing immense challenges, Pakistan is in dire need of generating cheap electricity as the energy import bill exorbitantly touched $35 billion.
Pakistan, which is already facing immense challenges of economic stability, needs to utilize alternative sources of electricity production. Had the water reservoirs been built on time, the country’s energy import bill would not have swelled to $35 billion. It is regrettable that powerful lobbies and cartels did not let materialize the construction of dams and the launch of solar power projects in the country.
