Petroleum production goes up 1.44%

Petroleum production goes up 1.44%

ISLAMABAD, Oct 01 (APP): The petroleum production during the first month of the current fiscal year (2016-17) witnessed increase of 1.44 percent compared to the corresponding month of last year.

The products that contributed in positive growth of petroleum included jet fuel oil, production of which grew by 20 percent during July compared to the production of July 2015, 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 8.88 percent and high speed diesel, which grew by 1.08 percent during the month under review.

Similarly, the furnace oil production increased by 6.83 percent, jute batching oil by 7.14 percent, while the production of LPG surged by 13.13 percent.

The products that witnessed negative growth in production during the period under review included kerosene oil, output of which declined by 62.63 percent.

Similarly the production of diesel oil, lubricating oil and solvent naptha decreased by 77.46 percent, 9.18 percent and 17.88 percent respectively.

It is pertinent to mention that the country’s large scale manufacturing (LSM) sector has witnessed growth of 2.62 percent during July 2016 compared to the corresponding month of last year.

The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 118.97 points during July (2016 17) against 115.94 points during same period of last year.

The highest growth of 1.52 percent was witnessed in the indices monitored by Ministry of Industries followed 1.00 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) witnessed nominal increase of 0.1 percent.

On month-on-month basis, the industrial growth, however decreased by 2.59 percent during July 2016 as compared to July 2015.