ISLAMABAD: The overall production of petroleum commodities has witnessed a decline of 6 percent during first three quarters of the current fiscal year as compared to corresponding period of last year.
The POL products that showed negative growth include Jet Fuel Oil, production of which decreased by 4.87 percent during July-March (2018-19) compared to the last year, According to the latest data of Pakistan Bureau of Statistics (PBS).
The production of Kerosene oil also decreased by 5.25 percent during the period while the output of high speed diesel decreased by 7.58 percent, furnace oil by 11.1 percent, jute batching oil by 4.5 percent, solvent Naptha by 30.23 percent while the production of petroleum products declined by 37.03 percent.
The commodities that witnessed positive growth in yield included motor spirits, output of which grew by 7.67 percent while the production of Diesel oil went up by 32.67 percent, lubricating oil by 14.19 percent while the production of LPG increased by 27.69 percent.
On year on year basis, the production of petroleum products witnessed negative growth of 9.65 in March 2019 compared to the corresponding month of last year. The items that contributed in negative growth included jet fuel oil, kerosene oil, motor spirits, high speed diesel, furnace oiln jute batching and petroleum products. The items that witnessed positive growth included diesel oil, lubricating oil and LPG.
The Large Scale Manufacturing Industries (LSMI) production has witnessed a decline of 2.93 percent during first three quarters of current fiscal year as compared to the corresponding period of last year.
LSMI Quantum Index Number (QIM) was recorded at 145.49 points during July-March (2018-19) against 149.89 points during July-Marc (2017-18), showing a negative growth of 2.93 percent, according to the data.
On yearly basis, the industrial growth also decreased by 10.63 percent in March 2019 as compared to same month of last year, whereas on monthly basis, the industrial growth witnessed increase of 1.81 percent in March 2019 when compared to growth during February 2019, the PBS data revealed.
