Petroleum production up 6.2% in 8 months

ISLAMABAD, Pakistan: The petroleum production during the first eight months of current fiscal year (2015-16) witnessed increase of 6.20 percent compared to the corresponding period of last year.


The products that contributed in positive growth of petroleum included jet fuel oil, production of which increased by 8.70 percent during July-February (2015-16) compared to the production of July-February (2014-15), according to the latest data of Pakistan Bureau of Statistics (PBS).

The other products that witnessed increase in production included motor spirits, output of which went up by 3.32 percent and high speed diesel, which grew by 4.61 percent during the period under review.

Similarly, the furnace oil production increased by 8.03 percent, lubricating oil by 17.51 percent, while the production of LPG surged by 17 percent.

The products that witnessed negative growth in production during the period under review included kerosene oil, output of which declined by 10.57 percent.

Similarly the production of diesel oil, jute batching oil and solvent naptha decreased by 22.56 percent, 18.69 percent and 0.64 percent respectively.

On year-on-year basis, the production of petroleum products increased by 3.81 percent during the month of February 2016 when compared to the February 2015.

During the month under review, production of kerosene oil decreased by 14.24 percent, motor spirits by 0.36 percent, diesel oil by 37.27 percent, furnace oil by 1.56 percent and jute batching oil by 21.37 percent.

It is pertinent to mention here that overall large scale manufacturing (LSM) sector witnessed growth of 4.35 percent during the first eight months of current fiscal year as compared to the corresponding period of last year.

The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 131.16 points during July-February (2015-16) against 125.69 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).

The highest growth of 2.38 percent was witnessed in the indices monitored by Ministry of Industries followed 1.59 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) increased by 0.38 percent.

On year-to-year basis, the industrial growth increased by 2.83 percent during February 2016 as compared to same month of last year while on month-to-month basis, the industrial growth decreased by 5.08 percent during February 2016 when compared to growth of January 2016, the data revealed.

Source: APP

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