Local POL Production Decrease 3.57% During July

Overall production of petroleum commodities has witnessed a decrease of 3.57 percent during the first months of current financial year 2021-22 as compared to corresponding period of fiscal year 2020-21

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Sep, 2021 ) :Overall production of petroleum commodities has witnessed a decrease of 3.57 percent during the first months of current financial year 2021-22 as compared to corresponding period of fiscal year 2020-21.

The Petroleum, Oil and Lubricants (POL) products that showed positive growth include Jet Fuel Oil the production of which increased by 1.08 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

Similarly, the production of Lubricating Oil, Jute Batching Oil, Solvant Naptha and Liquefied Petroleum Gas witnessing increase of 131.39 percent, 7.74 percent, 12.87 percent and 11.41 percent respectively.

However, the production of Kerosene Oil has decreased by 2.09 percent, Motor Spirits 1.16 percent, High Speed Diesel 5.29 percent, Diesel Oil NOS 38.66 percent, Furnace Oil 15.

52 percent and petroleum product NOS 24.49 during the period under review.

It is pertinent to mention here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country during the first months of financial year 2021-22 witnessed positive growth of 2.25 as compared to the output of the corresponding months of last year.

LSMI Quantum Index Number (QIM) was recorded at 138.01 points during July 2021 against 134.97 points during July 2020, showing growth of 2.25 percent.

The highest increase of 1.57 percent was witnessed in the indices monitored by the Provincial Boards of Statistics (PBoS), followed by 0.89 percent increase in indices monitored by the Ministry of Industries. However, the indices monitored by Oil Companies Advisory Committee (OCAC) witnessed negative growth of 0.22 percent.

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