Local petroleum production up by 12.98pc in ten months

ISLAMABAD: The production of petroleum products witnessed 12.98 per cent increase during the first ten months (July-April) of the current fiscal year as compared to the corresponding period of the last year.

According to latest data of the Pakistan Bureau of Statistics (PBS), the petroleum products that contributed in positive growth included motor spirits, the output of which grew by 18.61 per cent during the period under review while the production of jet fuel oil increased by 0.57 per cent.

The production of High-Speed Diesel by 14.06 per cent, Diesel oil by 33.25 per cent while the output of Furnace oil witnessed a growth of 7.76 per cent.

Similarly, the production of Jute batching oil increased by 13.16 per cent, Solvent Naptha by 6.51 per cent while the production of LPG increased by 47.66 per cent.

The petroleum products that witnessed negative growth in production included kerosene oil, the output of which decreased by 13.62 per cent, while the production of lubricating oil declined by 12.82 per cent.

Meanwhile, on a year-on-year basis, the production of petroleum products increased by 18.71 per cent during the month of April 2018 against the production of the same month of last year.

It is pertinent to mention here that the overall Large Scale Manufacturing Industries (LSMI) of the country witnessed a growth of 5.76 per cent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The country’s LSMI Quantum Index Numbers (QIN) was recorded at 149.39 points during July-April (2017-18) against 141.25 points during July-April (2016-17), showing growth of over 5.76 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS).

The highest growth of 3.81 per cent was witnessed in the indices monitored by Ministry of Industries, followed by 1.20 per cent growth in the products monitored by Provincial Bureaus of Statistics (PBS) and 0.76 growth in the indices of Oil Companies Advisory Committee (OCAC).

On a year-to-year basis, the industrial growth increased by 4.14 per cent during April 2018 as compared to same month of last year, however, on a month-to-month basis, the industrial growth decreased by 16.08 per cent in April 2018 when compared to growth of March 2018, the PBS data revealed.

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