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Big Industry shows 7.26pc growth in two months

LSMI industry

ISLAMABAD: The production of Large Scale Manufacturing Industries (LSMI) grew by 7.26 percent during the first two months of the current fiscal year 2021-22 compared to the corresponding period of the last year.

According to data released by the Pakistan Bureau of Statistics (PBS), the LSMI output increased by 12.74 percent for August 2021 compared to August 2020 and 2.09 percent if compared to July 2021.

The highest increase of 4.31 percent during July-August (2021-22) was witnessed in the indices monitored by the Ministry of Industries, followed by 2.81 percent increase in indices monitored by the Provincial Board of Statistics and 0.14 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

The major sectors that showed positive growth during July-August (2021-22) included; textile (1.43 pc), food, beverages and tobacco (6.74 pc), coke and petroleum products (2.35 pc), pharmaceuticals (18.67 pc), chemicals (6.36 pc), non-metallic mineral products (3.72 pc), automobiles (55.33 pc), iron and steel products (14.34 pc), leather products (20.21 pc), paper and board (10.37 pc), engineering products (6 pc) and wood products (15.81 pc).

The commodities that witnessed negative growth included fertilizers (0.87 pc), electronics (1.23 pc) and rubber products (30.81 pc).

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 the Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS).

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