When you have CD-RW drive that advertises speeds of 32x/12x/48x, the first speed that you encounter from left to right is the writing speed, the next one is the rewrite speed, and the last one is the reading speed.
Knowing this we can tell that our CD-RW drive has:
32x of writing speed
12x of rewriting speed
48x of reading speed
We can conclude that the reading speed of our CD-RW drive is 48x