Petroleum production up 4.32pc in 3Qs

Islamabad—The petroleum production during the first three quarters of the current fiscal year (2015 16) witnessed increase of 4.32 per cent 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 6.96 per cent during July March (2015 16) compared to the production of July March (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 2.23 per cent and high speed diesel, which grew by 3.15 per cent during the period under review. Similarly, the furnace oil production increased by 5.07 per cent, lubricating oil by 16.85 per cent, while the production of LPG surged by 17.27 per cent. The products that witnessed negative growth in production during the period under review included kerosene oil, output of which declined by 12.34 per cent. Similarly the production of diesel oil, jute batching oil and solvent naptha decreased by 27.35 per cent, 28.28 per cent and 2.75 per cent respectively.
On year on year basis, the production of petroleum products decreased by 9.19 per cent during the month of March 2016 when compared to the March 2015. During the month under review, production of kerosene oil decreased by 27.90 per cent, motor spirits by 6 per cent, diesel oil by 56.08 per cent, furnace oil by 15.80 per cent, jute batching oil by 100 per cent and Solvent Naptha by 16.31 per cent. It is pertinent to mention that the country’s large scale manufacturing (LSM) sector has witnessed growth of 4.7 per cent during the first three quarters 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 133.88 points during July-March (2015-16) against 127.87 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS). The highest growth of 2.96 per cent was witnessed in the indices monitored by Ministry of Industries followed 1.48 per cent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) increased by 0.26 per cent.—Agencies

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