Local POL Production Increases 17.52% In 10 Months

The overall production of petroleum commodities has witnessed an increase of 17.52 percent during the first ten months of financial year 2020-21 as compared to corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 14th Jun, 2021 ) :The overall production of petroleum commodities has witnessed an increase of 17.52 percent during the first ten months of financial year 2020-21 as compared to corresponding period of last year.

The Petroleum, Oil and Lubricants (POL) products that showed growth including kerosene oil production, which increased by 7.29 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

Similarly, the production of Motor Spirits, High Speed Diesel, Furnace Oil, Lubricating Oil, Jute Batching Oil, Liquefied Petroleum Gas (LPG) and petroleum products witnessing increase of 33.34 percent, 24.22 percent, 13.25 percent, 6.75 percent, 12.25 percent, 13.38 percent and 10.04 percent respectively.

However, the production of Jet Fuel Oil has decreased by 22.99 percent, Diesel oil 40.21 and Solvent Naptha 12.56 percent during the period under review.

On year-on-year basis, the production of POL products has witnessed an increase of 86.76 percent during April 2021 as compared to the output of April 2020.

During the month under review, the production of jet fuel oil increased by 163.95 percent, kerosene oil 110.49 percent, motor spirits 139.17 percent, high speed diesel by 68.34 percent, diesel oil nos by 535.45 percent, furnace oil by 76.

68 percent, lubricating oil by 54.19 percent, jute batching oil by 57.54 percent, solvent naptha by 86.17 percent, LPG 33.306 percent and petroleum products nos by 79.82 percent.

It is pertinent to mention here that the Large Scale Manufacturing Industries (LSMI) production grew by 68.07 percent on year-on-year basis during the month of April 2021 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

LSMI Quantum Index Number (QIM) was recorded at 144.92 points during April 2021 against 86.23 points during April 2020, showing positive growth of 68.07 percent, according to the latest PBS data.

During the first ten months of the current fiscal year, the overall production increased by 12.84 percent compared to the corresponding period of last fiscal year.

The industrial production during July-April (2020-21) was recorded at 1149.99 points against the output of 132.93 points during July-April (2019-20).

The highest increase of 9.89 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 2.05 percent increase in indices monitored by the Provincial board of Statistics and 0.91 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

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