Production of petroleum products surges by 15.21pc in 11 months
ISLAMABAD – The production of petroleum products rose by 15.21 percent during the first 11 months of the fiscal year (FY) 2012-13, against the subsequent period the previous year.
On a year-on-year basis the production increased by 4.24 percent in May 2013 in contrast to May 2012, according to Pakistan Bureau of Statistics (PBS) data.
The products whose production increased during July-May (2012-13) included jet fuel, kerosene oil and motor spirits which rose by 2.90, 16.20 and 22.70 percent respectively.
According to the PBS data, the production of high speed diesel, diesel oil, furnace oil and LPG also increased by 18.17, 18.24, 20.55 and 24.31 percent respectively.
The products that witnessed negative growth in production during the first eleven months of the FY 2012-13 included lubricating oil, jute batching oil and solvent naptha which decreased by 5.78, 1.76 and 5.89 percent respectively.
During the same period the production of high speed diesel, furnace oil, lubricating oil, jute batching oil and solvent naptha also increased by, 1.20 , 1.16, 2.52, 19.17 and 6.35 percent respectively.
The country’s overall large scale manufacturing (LSM) registered a positive growth rate of 4.17 percent during the first eleven months of the FY 2012-13 in contrast to the same period the previous year.
On year-on-year basis, LSM grew by 2.65 percent during the May 2013 in contrast to May 2012, the PBS data revealed.
The Quantum Index Numbers (QIN) of LSM stood at 117.55 points during July-May (2012-13) against July-May (2011-12)’s. 112.85 points.
During the period under review, the industries monitored by the Oil Companies Advisor Committee (OCAS) registered an increase of 0.81 percent in growth while the indices of the Ministry of Industries and the PBS grew by 1.68 and 1.67 percent respectively.