Low demand, high stocks
KARACHI
Following a slump in domestic demand due to an economic slowdown and smuggling from Iran, Pakistan did not import high-speed diesel (HSD) in July, The News reported Sunday, citing industry officials.
About 70% of the country’s diesel is used by the transport and agriculture sectors.
However, both sectors have been hit hard by the economic crisis and the high price of Pakistani diesel compared to cheaper Iranian fuel.
During July of the last financial year, the country imported 162,000 tonnes of HSD. “The economic slowdown has badly hampered the operations of the transport sector, while consumption in the agriculture sector has also been low,” said an industry official.
