Commodities Show Pace in Economic Activity in FY22

The economic activity at the start of the fiscal year 2021-2022 (FY22) shows positive progress as indicated by the production and sales of cotton, cement, and oil.

The cotton arrivals recorded by September 1 reached 1.7191 million bales.

The arrivals from Sindh reached 1.245 million bales while Punjab’s production was reported at 0.545 million bales.

The highest cotton arrivals were reported from Sanghar at 0.835 million bales.

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Further, the oil sales during the first two months of the fiscal year 2021-2022 (FY22) rose 22% as industrial and consumer consumption spikes.

The oil sales from July to August reached 3.905 million metric tons in the country.

The petrol sales rose 10% to 1.547 million metric tons in the first two months of the current fiscal year while diesel sales recorded an increase of 18% to 1.390 million metric tons.

A massive surge was recorded in the sales of furnace oil and it rose 59% to 0.878 metric tons.

The sales have soared in the first couple of months on the back of rising economic and farm activities and car sales.

Further, the cement sector posted a growth of 23% in August 2021.

The total cement dispatches in August 2021 were recorded at 4.336 million tons against 3.531 million tons dispatched during the same month last year.

During the first two months of the current fiscal year, total cement dispatches including domestic and exports were recorded at 8.235 million tons.

The economic activity at the start of the fiscal year also signifies that the country is recovering from the ravages of the pandemic virus.