Pakistan: Furnace oil imports may exceed estimates by $1b

ISLAMABAD: The import bill of furnace oil would exceed the budget estimates by around $1 billion in the current fiscal as the Water and Power Development Authority has demanded the government to allow it to import the furnace oil to avoid an energy crisis including acute power and gas shortages following the discontinuation of natural gas to the power producers and the overall industrial sector, Daily Times has learnt.

The consumption of furnace oil has showed an increase of almost 100 percent in the current fiscal and stood at 8 million tons so far this fiscal against 4.5 million tons during the whole of the last fiscal.