Daily Times

The output of the Large Scale Manufacturing Industry Sector witnessed a decline of 3.68% during July-December (2022-23) compared to the same period of last year, the Pakistan Bureau of Statistics (PBS) reported.

According to the provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for December 2022 released by PBS, on a Year-on-Year (YoY) basis, the big industry production decreased by 3.51% in December 2022 when compared with December 2021.

However, on Month-on-Month (MoM) basis, the industrial output increased by 12.38% in December when compared to the production of November 2022.

The main contributors towards overall negative growth of 3.68% were food (0.36%), tobacco (0.60%), textile (2.75%) garments (4.06%), petroleum products (0.80%), cement (1.04%), pharmaceuticals (1.21%), and automobiles (1.36%).

The production in July-December 2022-23 as compared to July-December 2021-22 has increased in wearing apparel (4.06%), leather products (0.04%), furniture (1.43%), and other manufacturing (0.15%).

It is pertinent to mention here that the provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for December 2022 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies including the Oil Companies Advisory Committee, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).