Local POL Production Increase 4.72% In 5 Months

ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Jan, 2022 ) :Overall production of petroleum commodities has witnessed an increase of 4.72 percent during the first five 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 increased by 30.63 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

During July-November (2021-22), the production of Kerosene Oil, Motor Spirits, High Speed Diesel, Diesel Oil NOS, Lubricating Oil, Solvent Naptha, Liquefied Petroleum Gas (LPG) and other petroleum products witnessing increase of 12.43 percent, 5.95 percent, 2.05 percent, 43 percent, 36.59 percent, 20.66 percent, 8.60 percent and 26.54 percent respectively.

However, the production of Furnace Oil and Jute batching oil decreased by 4.43 percent and 11.68 percent respectively during the period under review.

On year-on-year basis, the production of POL products however witnessed a decrease of 5.50 percent during November 2021 as compared to the output of November 2020.

During the months under review, the production of Jet Fuel Oil increased by 38.

40 percent, Kerosene Oil 50.88 percent, Diesel Oil NOS by 170.32, Solvent Naptha by 20.53 percent, Petroleum Products NOS by 47.66 percent.

However, the production of Motor Spirits decreased by 4.08, high Speed Diesel by 10.19 percent, Furnace Oil by 18.66 percent, Lubricating Oil by 9.92 percent, Jute Batching Oil by 78.68 percent and LPG by 2.23 percent, the data added.

It is pertinent to mention here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country during the first five months of financial year 2021-22 witnessed positive growth of 3.26 percent as compared to the output of the corresponding months of last year.

LSMI Quantum Index Number (QIM) was recorded at 142.40 points during July-November 2021-22 against 137.90 points during July-November 2020-21, showing growth of 3.26 percent.

The highest increase of 2.71 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 0.28 percent increase in indices monitored by the Provincial Boards of Statistics (PBOS) and 0.27 percent indices monitored by Oil Companies Advisory Committee (OCAC).