SATV, 29 July, Kathmandu: Despite quantitative increase in imports of petroleum products in the first 11 months of the current fiscal year, there has been a decrease in expenditure.

According to the statistics of the Department of Customs, petroleum products, including cooking gas, worth around Rs. 250 billion have been imported during the first 11 months of the current fiscal year. 

Around 681,484 kiloletres of petrol worth Rs. 58.59 billion, and 1,312,905 kilolitres of diesel worth Rs. 115.55 billion have been imported during the review period.

Similarly, about 194,500 kilolitres of aviation fuel worth Rs. 17.49 billion and 12,030 kilolitres of kerosene worth Rs. 1.07 billion have been imported during the first 11 months of the current fiscal year 2024/25.

During the review period, 506,679 tonnes of liquefied petroleum gas (LPG) worth Rs. 57.36 billion was imported.

In terms of amount, the import of petroleum products has decreased by 5.23 per cent during the review period as compared to same period last fiscal year. 

The expenditure for the import of petrol has decreased by 6.8 per cent and diesel by 10.56 per cent during the first 11 months of the current fiscal year as compared to the same period last fiscal year.

Similarly, the import of aviation fuel has decreased by 10.1 per cent during the review period.

The decline in the prices of petroleum products, including diesel and petrol, in the international market has contributed to reduced expenses for the import of fuel during the review period.

In terms of quantity, the import of petrol, kerosene, diesel, aviation fuel and cooking gas increased during the review period as compared to same period last fiscal year.

During the first 11 months of the last fiscal year, 630,063 kilolitres of petrol worth Rs. 62.87 billion and 1,251,027 kilolitres of diesel worth Rs. 129.20 billion had been imported.

Similarly, 184,066 kilolitres of aviation fuel worth Rs. 19.47 billion, 11,348 kilolitres of kerosene worth Rs. 1.19 billion and 481,625 tonnes of LPG worth Rs. 51.07 billion had been imported by mid-June 2024, of the last fiscal year.

The data showed that the expenditure for the import of LPG has increased during the review period as compared to same period last fiscal year. 

The government has collected revenue of Rs. 104.6 billion from the import of petroleum products during the review period. 

Of the total tax collected from petroleum products, Rs. 38.58 billion from petrol, Rs. 52.33 billion from diesel, Rs. 2.73 billion from aviation fuel, Rs. 10.69 billion from cooking gas and Rs. 300 million from kerosene have been collected. 

The share of petroleum products to the total import stands at 15.19 per cent during the review period of the current fiscal year.

During the review period, imports have increased by 13.15 per cent to Rs. 1,644.79 billion.

However, the import of petroleum products is higher than the total exports of the country. 

During the first 11 months of the current fiscal year, Nepal's total export stood at Rs. 247.57 billion. This is 78 per cent higher than the total exports of the country same period last fiscal year. 

The country exported goods worth only Rs. 139.26 billion during the first 11 months of the last fiscal year.