The food import bill has risen 40.6 percent, reaching Rs1,347 billion ($6 billion) in the first seven months of the financial year, according to the Pakistan Bureau of Statistics (PBS).
As per the bureau, the food import bill rose by 6.29% in dollar terms, and 40.60% in terms of the rupee as compared to the same period last year.
According to the data, food imports cost $1,347 billion in foreign currency between July 2022 and January 2023. In contrast, during the first seven months of the last fiscal year, food worth Rs958 billion was imported.
Also, according to the data, imports of wheat, milk, cream, tea, dry fruits, spices, sugar, soybeans, palm oil, and pulses were made during the time period under consideration.
Wheat was imported for Rs174.68 billion, a 23% increase from the previous year. Palm oil import costs rose by 15% to Rs550.56 billion.
More than 200% more soybean oil was imported, amounting to Rs45 billion.
Tea leaves worth Rs 82 billion and spices worth Rs 20 billion were imported in the first seven months of the fiscal year.
According to the data, the import of mobile phones plunged by 63%, and its import bill was recorded at Rs93 billion, as compared to Rs217 billion during the same period last year.
A significant drop was noted in the import of cars in the first seven months of the ongoing financial year, saving millions of dollars worth of foreign exchange.
This year, cars worth Rs131.7 billion have been imported, as compared to Rs199 billion last year.
The data shows car imports fell between 43% and 81% as compared to last year. These include finished cars and assembled vehicles, as per the PBS.
