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POL products output up by 10.26pc

POL products output up by 10.26pc

ISLAMABAD: The production of petroleum products witnessed 10.26 percent increase during the first eight months (July-February) 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, output of which grew by 15.60 percent during the period under review. The production of High Speed Diesel grew by 11.09 percent, Diesel oil by 27.34 percent while the output of Furnace oil witnessed growth of 5.01 percent. Similarly, the production of Jute batching oil increased by 17.02 percent, Solvent Naptha by 8.48 percent while the production of LPG increased by 39.49 percent.

The petroleum products that witnessed negative growth in production included jet fuel, output of which decreased by 1.78 percent, Kerosene oil 13.60 percent, while the production of lubricating oil declined by 16.41 percent.

Meanwhile, on year-on-year basis, the production of petroleum products increased by16.28 percent during the month of February 2018 against the production of same month of last year.

It is pertinent to mention here that the overall LSMI of the country witnessed an impressive growth of 6.24 percent during the first eight months of the current fiscal year compared to the corresponding period of last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 145.28 points during July-February (2017-18) against 136.75 points during July-February (2016-17), showing growth of over 6.24 per cent, according to the data of Pakistan Bureau of Statistics (PBS).

The highest growth of 4.08 percent was witnessed in the indices monitored by Ministry of Industries, followed by 1.54 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 0.62 growth in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 5.52 percent during February 2017 as compared to same month of last year, however, on month-to-month basis, the industrial growth decreased by 1.51 percent in February 2017 when compared to growth of January 2017, the PBS data revealed.