Business Tech

Large scale manufacturing grows 3.56pc in July-Oct: PBS

LSMI - Large scale manufacturing grows 3.56pc in July-Oct: PBS

ISLAMABAD: Pakistan’s Large Scale Manufacturing Industries (LSMI) production grew by 3.56 percent during the first four months (July-October) of the current fiscal year 2021-22 compared to the corresponding period of last year.

According to Pakistan Bureau of Statistics (PBS), 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 percent.

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

On year on year basis (YoY), the industry declined by 1.19 percent during the month of October 2021 compared to the growth of October 2020, according to PBS latest data.

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

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

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