Import of petrol in Pakistan increases by 22%

The total Pakistani imports of petrol during the fiscal year 2012-2013 have increased to 22 percent as compared to the previous fiscal year, said Oil Companies Advisory Committee (OCAC). The current increase in imports reached 1.894 million tons as compared to 1. 555 million tons in fiscal year 2011-2012. However, the import of High Speed Diesel (HSD) has decreased by 11 percent to 2.946 million tons in 2012-2013 compared to 3.318 million tons of 2011-2012. Security analysts believe that the poor economic performance has decreased the demand of HSD by an average of 3 percent each year. Crude oil imports witnessed 19 percent increase to 7.278 million tons during fiscal year 2012-13 while it was stood at 6.116 million tons in fiscal year 2011-12. On yearly basis, imports of HSD contracted by 15 percent to 3. 140 million tons in June 2013 as against 3.689 million tons in June 2012, while it soared by 50 percent on monthly basis as compared with 2.128 million tons in May 2013.