Daily Times

The domestic production of edible oil and vegetable ghee during first two months of current financial year grew by 6.4 percent and 6.6 percent respectively as compared to the output of the corresponding period of last year.

During the period from July-August 2022, over 81,897 metric tons of cooking oil domestically manufactured as against the manufacturing of 76,982 metric tons in same period last year, according to the quantum index of Large Scale Manufacturing Industries (LSMI) release by Pakistan Bureau of Statistics.

The local output of edible oil recorded about 2.9 percent growth as about 39,845 metric tons of the above mentioned commodity manufactured in August, 2022 as against the output of 38, 713 metric tons of same period last year.

Meanwhile, local output of vegetable ghee recorded at 229,133 metric tons in two month of current fiscal year as compared the production of 214,950 metric tons of same period last year.

In August, 2022, the local production of vegetable ghee was recorded at 110,061 metric tons as against the output of 109,334 metric tons same month last year.

During last two months of current financial year tea blending witnessed 7.2 percent increase as 28,184 metric tons of tea blended locally as compared the blending of 26,227 metric tons of same period last year.

However, domestic manufacturing of beverages went down by 0.5 percent in first two months as it was recorded at 130.6 thousand liters as against the production of 136.8 thousand liters.

It is pertinent to mention here that the production of Large-Scale Manufacturing Industries (LSMI) witnessed a growth of 0.6 per cent on year-on-year basis during the month of August 2022 as compared to the same month of last year as LSMI index went up from 114.1 points in August 2021 to 114.8 points in August 2022.

Month-on-month basis, 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%).