Large-scale manufacturing grows 3.56 per cent in 4 months

ISLAMABAD: The large-scale manufacturing industries (LSMI) production grew 3.56 per cent during the first four months of the current fiscal year, compared with the corresponding period of the last year, Pakistan Bureau of Statistics (PBS) reported.

The LSMI Quantum Index Number (QIM) was recorded at 140.50 points during July-October (2021/22) against 135.66 points during July-October (2020/21), showing growth of 3.56 per cent, according to the latest PBS data.

The highest increase of 2.26 per cent during July-October (2021/22) was witnessed in the indices monitored by the Ministry of Industries; followed by 0.88 per cent increase in indices monitored by the Provincial Board of Statistics and 0.43 per cent increase in the products monitored by the Oil Companies Advisory Committee.

On a year on year basis, the industry declined 1.19 per cent during the month of October 2021, compared with the growth of October 2020, according to the PBS data.

The major sectors that showed positive growth during July-October (2021-22) included textile (0.91 per cent), food, beverages and tobacco (5.15 per cent), coke and petroleum products (7.33 per cent), pharmaceuticals (6.55 per cent), chemicals (3.14 per cent), automobiles (37.91 per cent), iron and steel products (11.62 per cent), leather products (10.49 per cent), paper and board (9.39 per cent), engineering products (0.81 per cent) and wood products (6.56 per cent).

The commodities that witnessed negative growth included non-metallic mineral products (2.66 per cent), fertilizers (7.23 per cent), electronics (10.92 per cent) and rubber products (32.23 per cent).

The provisional QIM is being computed on the basis of the latest production data received from sources, including the Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and the provincial Bureaus of Statistics.

Also Read

Egypt to open its first green hydrogen plant in November 2022

CAIRO: Egypt will have its first green hydrogen production plant up and...