As a result of lockdown, a sharp reduction in domestic demand of petroleum imports nearly up to 55 percent has been witnessed in April due to enforcement of Standstill transport. Data accumulated by the Pakistan Bureau of Statistics (PBS) presented about the total import bill of fuel group decreased by 54.86percent year-on-year to $580.337 million. While the Import of crude oil has dipped by 86.5percent in value and 74.3percent in quantity during the month. Likewise, Liquefied Natural Gas (LNG) importations has fallen by 52.22percent in value. It could have been translated into relatively lower power production through this fuel. In addition, export of petroleum top naphtha reduced to zero during the month. The depression in the local petroleum production and exports from the country is expected to drag down economic growth as the oil import bill also perceived a double-digit decline.
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