Local POL production increase 18.05 per cent

ISLAMABAD (APP): The overall production of petroleum commodities has witnessed an increase of 18.05 percent during the fiscal year 2020-21 as compared to corresponding period of last year.

The POL products that showed positive growth include Kerosene Oil the production of which increased by 9.12 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.

Similarly, the production of Motor Spirits, High Speed Diesel, Furnace Oil, Jute Batching Oil, Liquefied Petroleum Gas (LPG) and Petroleum NOS witnessing increase of 27.61 percent, 23.92 percent, 14.65 percent, 11.13 percent, 11.13 percent, 15.08 percent respectively.

However, the production of Jet Fuel Oil has decreased by 16.19 percent, Diesel oil percent, Solvant Naptha 4.20 percent during the period under review.

On year-on-year basis, the petroleum production has witnessed an increase of 38.93 percent during June 2021 as compared to the output of June 2020.

During the month under review, the production of jet fuel oil increased by 74.82 percent, motor spirits by 30.37 percent, high speed diesel by 50.30 percent, diesel oil NOS 425.45 percent, furnace oil by 39.20 percent, lubricating oil by 63.11 percent, solvent naptha by 12.42 percent, LPG by 22.74 percent and petroleum products NOS by 8.74 percent.

On the other hand, the production of kerosene oil dipped by 5.86 percent, jute batching oil by 9.15.

It is pertinent to mention here that the overall output of LSMI in the country during the fiscal year 2020-21 witnessed positive growth of 14.85 as compared to the output of the corresponding period of last year.

LSMI Quantum Index Number was recorded at 148.71 points during July-June (2020-21) against 129.49 points during July-June (2019-20), showing growth of 14.85 percent, according to the data released by the Pakistan Bureau of Statistics.

The highest increase of 18.05 percent was witnessed in the indices monitored by the Oil Companies Advisory Committee (OCAC), followed by 17.13 percent monitored by the Ministry of Industries and an increase of 9.15 percent was witnessed in the indices monitored by the Provincial Board of Statistics (BOS).

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