Pakistan’s petroleum group imports witnessed a growth of 105.31 percent as it reached $23.318 billion during July-June 2021-22 (FY22) compared to $11.357 billion during the same period of last year, says Pakistan Bureau of Statistics (PBS).
The imports and exports data released by PBS on Tuesday noted that petroleum group imports witnessed an increase of 146.61 percent as it reached $3.639 billion in June 2022 compared to $1.475 billion during June 2021 and registered 37.54 percent growth when compared to $2.645 billion in May 2022.
Total imports of the country during FY22 stood at $80.177 billion (provisional) as against $56.380 billion during the corresponding period of last year showing an increase of 42.21 percent.
The imports in June 2022 were $7.880 billion (provisional) as compared to $6.777 billion in May 2022 showing an increase of 16.28 percent and by 24.06 percent as compared to $6,352 million in June 2021.
Main commodities of imports during June 2022 were petroleum products (Rs. 418,314 million), petroleum crude (Rs.171,423 million), natural gas liquefied (Rs. 143,007 million), iron & steel (Rs.66,058 million), plastic materials (Rs. 59,821 million), raw cotton (Rs.36,384 million), iron & steel scrap (Rs.31,586 million), palm oil (Rs. 29,258 million), motor cars (CKD/SKD) (Rs.28,269 million) and electrical machinery & apparatus (Rs. 25,623 million).
So the depreciated PKD is have no impact on our imports. What does that tell you about our people’s buying power?