KARACHI: Petrol imports are more likely to contact a document excessive this month, crossing four hundred,000 tonnes, as shoppers are switching to petrol due to decrease costs and scant availability of compressed pure fuel (CNG). To date the very best import of 382,000 tonnes of oil was recorded in July 2015.
Larger gross sales of automobiles, bikes and rickshaws, and rising imports of turbines have additionally pushed up demand for petrol.
Oil Corporations Advisory Council (OCAC) CEO Ilyas Fazil stated that in March 2016 petrol gross sales rose to a document 553,253 tonnes (of which 142,000 tonnes have been produced by native refineries), breaking the earlier excessive of 511,185 tonnes registered in October 2015.
Gross sales stood at 448,000 tonnes in February 2016. Throughout July-March 2015-sixteen, round four.2 million tonnes of petrol have been
bought, which was 26 per cent larger than three.32m tonnes in the identical interval of final fiscal yr.
Preserving in view the demand-provide state of affairs, the OCAC would agency up the plan for petrol imports for Might shortly, Mr Fazil stated.
Imports of automobiles (principally used ones) rose 26pc to $234m in July-March FY16 from $185m in the identical interval final fiscal yr whereas bike imports jumped 108pc to $2.56m from $1.2m.
Arrivals of utterly knocked-down (CKD) and semi knocked-down (SKD) kits went up by 9.6pc to $386m within the final eight months in comparison with $352m a yr earlier, whereas kits imports for bikes rose 19pc to $76m from $64m.
Automotive gross sales elevated to 137,206 models in July-March as in comparison with one hundred and five,344 in the identical interval final fiscal yr.
Honda bought 601,764 bikes in the course of the interval as in comparison with 464,839 a yr in the past.
The import invoice of energy turbines grew 43pc yr-on-yr to $1.three billion in July-March FY16 from $934m.
Umair Naseer of Topline Securities stated oil gross sales elevated 9pc yr-on-yr and 13pc month-on-month in March 2016 to 2m tonnes on the again of document gross sales of motor gasoline (MOGAS).
Throughout July-March FY16, oil gross sales rose 5pc to sixteen.7m tonnes pushed by progress in white oil (MOGAS and diesel).
MOGAS registered robust progress resulting from sharp drop in petrol costs and elevated buying energy. The federal government has decreased petrol costs by 11pc yr-on-yr as of March 2016, which has additionally resulted in lower cost differential between petrol and CNG, Mr Fazil stated.
Excessive-velocity diesel (HSD) gross sales additionally grew 12pc yr-on-yr to 600,000 tonnes pushed by decrease oil costs and elevated demand from the transportation sector. Gross sales of furnace oil fell 7pc to seven hundred,000 tonnes because of availability of liquefied pure fuel (LNG), he believed.
Revealed in Daybreak, April twenty third, 2016
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