Home / Knowledge / News / Textiles / Inflating import bill cripples domestic industry
Inflating import bill cripples domestic industry
21
May '08
Import bill of Pakistan is surging ceaselessly and this is amply evident from the fact that in the last ten months of this current fiscal year, import of oil alone has touched US $8.67 billion, reflecting a 47.04 percent year on year growth.

Manufactured petroleum products also saw a 53.60 percent growth to reach $4.650 billion against $3.027 billion recorded in the previous year.

During the same period last year, oil import stood at over $5.896 billion while crude petroleum oil imports soared to $4.019 billion during July-April period of the current fiscal year, up by 40.11 percent against $2.868 billion of the same period of last year.

In the month of April alone, oil imports grew by over 102.53 percent to touch $1.253 billion compared to $619.057 million in April of the previous year. Besides, it increased by nearly 16.48 percent over the month of March when $1.076 billion worth of oil products were imported.

This growth is attributed to the increase in import of manufactured petroleum products, which grew by over 93.46 percent and an surge of 113.69 percent in crude oil import.

Experts opine that this uncontrollable imports will show no signs of abating in the future either. Oil prices hovered at around $129 per barrel yesterday and if it continues to soar or even stay at this level, there's no stopping to the billowing import bills which may very predictably settle at $10 billion.


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search