Production, export of petroleum products rise

The first four months of FY25 saw a 30.98 per cent increase in crude oil imports, leading to higher-than-expected production of petroleum products by local refineries and an increase in exports. Preliminary estimates suggest that the increase in local production of petroleum products in the past few months and its exports from the country is likely to boost economic growth in the current fiscal year. Data compiled by the Pakistan Bureau of Statistics (PBS) showed that petroleum crude imports increased by 16.80pc in value and 30.98pc in quantity in the July-October FY25 from a year ago. In quantity, the crude import reached 3.137 million tonnes in 4MFY25 from 2.395m tonnes in the previous year.