Edible oil import bill reaches $ 1.70bn

KARACHI: Pakistan edible oil import bill reached 1.70 billion dollars in the first 10 month of current fiscal year, said Pakistan Bureau of Statistics (PBS) on Tuesday. SBS said that Pakistan is one of the biggest importers of soybean and palm oils and every year it imports more than two billion dollars edible oils.

According to economic experts, Pakistan has taken many steps, including increasing cultivation of sun flower and other seeds to reduce edible oil import bill, but due to rise in consumption day by day, the country still has to pay more than two billion dollars in this head every year.

In the fiscal year 2013-14, it is also likely that the bill would hit more than two billion dollars.

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