Daily Times

The production of Large-Scale Manufacturing Industries (LSMI) witnessed a growth of 0.6 per cent on year-on-year (YoU) basis during the month of August 2022 as compared to the same month of last year.

According to data released by the Pakistan Bureau of Statistics (PBS) here Wednesday, the LSMI index went up from 114.1 points in August 2021 to 114.8 points in August 2022.

On month-on-month basis (MoM), the industry grew by 3.9 per cent during the month under review as compared to 110.05 points during July 2022.

However, overall the Large-Scale Manufacturing Sector has shown a decline of 0.4% during July-August (2022-23) when compared with the same period of last year. The LSMI during the first two months of the current fiscal year was recorded at 112.6 points as compared to 113.1 points during July-August (2021-22).

The main contributors towards the overall negative growth of 0.4 per cent were, garments (5.3), petroleum products (-1.2), cement (-2.0), fertilizers (-0.2) and iron and steel products (0.5).

The major sectors that showed positive growth during July-August (2022-23) included wearing apparel (5.3%), leather products (0.1%), paper and board (0.1%), chemicals (0.2%), iron and steel products (0.5%), furniture (2.3%) and other manufacturing (0.1%).

The commodities that witnessed decline during the period under review included food (1.1.%), beverages (0.03%), tobacco (1.1%), textile (0.8%), coke and petroleum products (1.2%), pharmaceutical (2%), rubber products (0.01%), non-metallic mineral products (1.4%), fabricated metal (0.1%), compute, electronics and optical products (0.001%), electronic equipment (0.2%), machinery and equipment (0.2%), automobiles (0.9%) and other transport equipment (0.3%).

It is pertinent to mention here that the provisional quantum LSMI indices have been developed with the base year 2015-16 on the basis of the latest data supplied by the source agencies including Oil Companies Advisory Council (OCAC), Ministry of Industries and Production (MoIP), Ministry of Commerce and Provincial Bureaux of Statistics (PBS).