Petroleum products production rises 0.3pc in 8 months

ISLAMABAD: The production of petroleum products surged 6.34 percent during February 2022 as compared to February 2021; however, the overall production in first eight months of the current fiscal year witnessed an increase of 0.30 percent on yearly basis.

According to a report of Pakistan Bureau of Statistics, the petroleum products that contributed in positive growth in production included jet fuel, the output of which increased by 27.29 percent.

Likewise, the production of kerosene oil increased by 8.53 percent, motor spirits by 5.39 percent, high speed diesel by 6.94 percent, furnace oil by 2.02 percent, lubricating oil by 5.9 percent, jute batching oil by 18.86 percent, solvent naptha by 18.55 percent, and LPG by 2.64 percent.

The commodities that witnessed negative growth in production included diesel oil, the output of which went down by 68.48 percent while the output of all other petroleum products declined by 7.84 percent.

The overall production of petroleum commodities during July to February of the current fiscal year witnessed an increase of 0.30 percent as compared to the corresponding period of last fiscal year.

During this period, the production of jet fuel went up by 27.53 percent, kerosene oil by 21.96 percent, diesel oil by 11.73 percent, lubricating oil by 14.86 percent, jute batching oil by 30.71 percent, solvent naptha by 14.42 percent and LPG by 3.97 percent.

The commodities that witnessed negative growth in production during July-February (2021-22) included, motor spirits, output of which declined by 0.49 percent while the output of high speed diesel declined by 1.25 percent and furnace oil by 8.65 percent.

It is pertinent to mention here that the overall production of Large Scale Manufacturing Industries (LSMI) grew by 4.6 percent during the first eight months of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Friday.

The LSMI Quantum Index Number (QIM) was recorded at 156.9 points during July-February (2021-22) against 150.0 points during July-February (2020-21), showing growth of 4.6 percent, according to latest PBS data.

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