Local POL Production Increase 4.75% In 3 Months

Overall production of petroleum commodities has witnessed an increase of 4.75 percent during the first three months of current financial year 2021-22 as compared to corresponding period of fiscal year 2020-21

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Nov, 2021 ) :Overall production of petroleum commodities has witnessed an increase of 4.75 percent during the first three 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 18.51 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

During July-September (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 2.28 percent, 6.18 percent, 2.89 percent, 20.32 percent, 113.11 percent, 17.12 percent, 12.40 percent and 17.54 percent respectively.

However, the production of Furnace Oil has decreased by 4.86 percent and Jute Batching Oil 11.45 percent during the period under review.

On year-on-year basis, the production of POL products has also witnessed an increase of 9.57 percent during September 2021 as compared to the output of September 2020.

During the month under review, the production of Jet Fuel Oil increased by 25.60 percent, Kerosene Oil 9.60 percent, Motor Spirits 3.58 percent, high Speed Diesel by 11.55 percent, Diesel Oil NOS by 364.65 percent, Furnace Oil by 0.91 percent, Lubricating Oil by 51.99 percent, Jute Batching Oil by 32.24, Solvent Naptha by 19.77 percent, LPG 23.72 percent and Petroleum Products NOS by 8.97 percent.

It is pertinent to mention here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country during the first three months of financial year 2021-22 witnessed positive growth of 5.15 as compared to the output of the corresponding months of last year.

LSMI Quantum Index Number (QIM) was recorded at 139.50 points during July-September 2021-22 against 132.67 points during July-September 2020-21, showing growth of 5.15 percent.

The highest increase of 3.30 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.57 percent increase in indices monitored by the Provincial Boards of Statistics (PBoS) and 0.28 percent indices monitored by Oil Companies Advisory Committee.

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