Local POL production increase 0.33% in 10 months

ISLAMABAD, Jun 22 (APP):Overall production of petroleum commodities has witnessed an increase of 0.33 percent during the first ten months of fiscal 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 27.41 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

During July-April (2021-22), the production of Kerosene Oil, High Speed Diesel, Lubricating Oil, Jute Batching Oil, Solvent Naptha, and other petroleum products witnessing increase of 7.42 percent, 0.69 percent, 11.73 percent, 5.10 percent, 8.35 percent, and 9.85 percent respectively.

However, the production of Furnace Oil, Diesel Oil NOS, Motor Spirits and Liquefied Petroleum Gas (LPG) witnessed decrease of 7.76, 1.09 percent, 1.24 percent and 0.49 percent respectively during the period under review.

On year-on-year basis, the production of POL products has witnessed a increase of 4.37 percent during April 2022 as compared to the output of April 2021.

During the months under review, the production of Jet Fuel Oil increased by 43.97 percent, high Speed Diesel by 7.34 percent, and Lubricating Oil by 3.86 percent.

However, the production of Kerosene Oil decreased 71.48 percent, Motor Spirits 16.86 percent, Diesel Oil NOS by 78.89 percent, Furnace Oil by 10.43 percent, Jute Batching Oil by 29.72 percent, Solvent Naptha by 42.98 percent, LPG 0.92 percent and Petroleum Products NOS by 2.08 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 ten months of fiscal year 2021-22 witnessed positive growth of 6.7 percent as compared to the output of the corresponding months of last year.

LSMI Quantum Index Number (QIM) was recorded at 160.1 points during July-April 2021-22 against 150.0 points during July-April 2020-21, showing growth of 6.7 percent.