Petroluem production increases by 13.24pc during FY2017-18

ISLAMABAD: The production of petroleum products witnessed a 13.24 per cent increase during the fiscal year 2017-18 as compared to the last fiscal year, Pakistan Bureau of Statistics (PBS) reported.

The petroleum products that contributed in this positive growth included motor spirits, the output of which grew by 18.68 per cent during the period under review while the production of high-speed diesel increased by 14.93 per cent, according to latest data of PBS.

The production of diesel oil surged by 33.36 per cent during the period under review while the output of Furnace oil witnessed a growth of 8.17 per cent.

Similarly, the production of Jute batching oil increased by 9.04 per cent, Solvent Naptha by 5.71 per cent while the production of LPG increased by 44.64 per cent.

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The petroleum products that witnessed negative growth in production included jet fuel, the output of which witnessed a decline of 0.59 per cent while the production of kerosene oil decreased by 12.10 per cent and lubricating oil by 7.66 per cent.

Meanwhile, on a year-on-year basis, the production of petroleum products increased by 10.18 per cent during the month of June 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 5.38 per cent during the year 2017-18 compared to last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 147.07 points during July-June (2017-18) against 139.55 points during July-June (2016-17), showing growth of over 5.38 per cent.

The highest growth of 13.24 per cent was witnessed in the indices monitored by Oil Companies Advisory Committee (OCAC) followed by 5.04 per cent growth in the products monitored by Ministry of Industries and 1.17 per cent growth in Provincial Bureaus of Statistics (PBOS).

On yearly basis, the industrial growth increased by 0.51 per cent during June 2018 as compared to same month of last year, however, on monthly basis, the industrial growth decreased by 8.3 per cent in June 2018 when compared to growth of May 2018, the PBS data revealed.

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