Oil import bill rises by 13.81pc YoY in July – Alfalah Securities Limited

Karachi, August 23, 2012 (PPI-OT): Pakistan’s oil import bill increased by 13.81 % to USD1.35 billion in July 2012 against USD 1.18 billion in the same month last year, as per data released by the Pakistan Bureau of Statistics (PBS).

According to Alfalah Securities Limited, severe energy crisis including gas shortfall in the country and lower production by refineries have led to higher demand of oil imports.

Rising oil import bill have widened the trade deficit and has exerted pressure on the foreign exchange reserves to finance to imports.