Local POL production increases 16.22pc in 11 months

ISLAMABAD    –  The overall production of petroleum commodities has witnessed an increase of 16.22 per cent during the first eleven months of fiscal year 2020-21 as compared to corresponding period of last year.

The Petroleum, Oil and Lubricants (POL) products that showed growth including kerosene oil production, which increased by 11.07 per cent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

Similarly, the production of Motor Spirits, High Speed Diesel, Furnace Oil, Lubricating Oil, Jute Batching Oil, Liquefied Petroleum Gas (LPG) and petroleum products witnessing increase of 27.33 per cent, 21.55 per cent, 12.60 per cent, 7.96 per cent, 12.73 per cent, 14.44 per cent and 12.71 per cent respectively.

However, the production of Jet Fuel Oil has decreased by 19.81 per cent, Diesel oil 36.76 and Solvent Naphtha 5.79 per cent during the period under review.

On year-on-year basis, the production of POL products has witnessed an increase of 4.15 per cent during May 2021 as compared to the output of May 2020.

During the month under review, the production of jet fuel oil increased by 53.87 per cent, kerosene oil 96.76 per cent, diesel oil Nos 70.68 per cent, furnace oil by 5.59 per cent, lubricating oil by 22.91 per cent, jute batching oil by 23.68 per cent, solvent naphtha by 276.79 per cent, LPG 26.60 per cent and petroleum products Nos by 42.58 per cent.

It is pertinent to mention here that the Large Scale Manufacturing Industries (LSMI) production grew up by 36.84 per cent on year-on-year basis during the month of May 2021 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

LSMI Quantum Index Number (QIM) was recorded at 139.55 points during May 2021 against 101.98 points during May 2020, showing growth of 36.84 per cent, according to PBS data.

During the first eleven months of the current fiscal year, the overall LSM production increased by 14.57 per cent as compared to the corresponding period of last fiscal year. The industrial production during July-May (2020-21) was recorded at 149.07 points against the output of 130.11 points during July-May (2019-20).

Article source: https://nation.com.pk/21-Jul-2021/local-pol-production-increases-16-22pc-in-11-months