Local POL production increases 4.75% in 3 months

Nov 19, 2021: Overall production of petroleum commodities has witnessed an increase of 4.75% 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% 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%, 6.18%, 2.89%, 20.32%, 113.11%, 17.12%, 12.40% and 17.54% respectively.

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

On year-on-year basis, the production of POL products has also witnessed an increase of 9.57% 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%, Kerosene Oil 9.60%, Motor Spirits 3.58%, high Speed Diesel by 11.55%, Diesel Oil NOS by 364.65%, Furnace Oil by 0.91%, Lubricating Oil by 51.99%, Jute Batching Oil by 32.24, Solvent Naptha by 19.77%, LPG 23.72% and Petroleum Products NOS by 8.97%.

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%.

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

APP