Business Tech

Large Scale Industry output jumps 7.4pc in six months

Large Scale industry output jumps 7.4pc in six months

The overall output of the Pakistan’s Large Scale Manufacturing Industry (LSMI) increased by 7.4 percent for the first half (July-December) of the current fiscal year 2021-22 as compared to July-December 2020-21.

According to the provisional data shared by Pakistan Bureau of Statistics (PBS), the Large Scale Industry production grew by 6.4 percent for December 2021 on a year-on-year basis as compared to December 2020.

On a month-on-month basis, the LSMI growth surged by 10.5 percent in December 2021 compared to November 2021.  The PBS said that provisional quantum indices of Large Scale Industry for December 2021 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies.

The major sectors that showed growth during the period under review included textile which grew by 1.1 percent, food, beverages, and tobacco which grew by 3.1 percent, chemicals 5.4 percent, automobiles 35.7 percent, iron and steel products 23.9 percent, leather products 8.3 percent, paper and board 8.3 percent, engineering products 1.1 percent and wood products registered a 229.4 percent growth.

The commodities that witnessed negative growth included non-metallic mineral products, which took a 0.5 percent hit, fertilizers pharmaceuticals 0.7 percent, non-metallic mineral products 0.6 percent, fertilizers 3.9 percent, electronics 6.2 percent and rubber products 28.3 percent. It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, Ministry of Industries and Production (MoIP), and PBS.

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