Daily Times

The production of Large Scale Manufacturing Industries (LSMI) increased by 3.43 percent on Year-on-Year (YoY) basis during the month of December 2023 compared to the output of the same month of last year, Pakistan Bureau of Statistics (PBS) reported. On Month-on-Month (MoM) basis, the large industry grew by 15.69 percent in December 2023 compared to November 2023, PBS reported.

However, the industry witnessed negative growth of 0.39 percent during the first half of the current fiscal year as compared to the corresponding period of last year. The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for October 2023 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies.

The main contributors towards overall growth of -0.39% during July-December 2023-24 included, food (0.76), tobacco (-0.73), textile (-2.05) garments (2.26), paper & board (-0.12), petroleum products (0.55), chemicals (0.30), pharmaceuticals (1.43), cement (0.12), iron and steel products (-0.07), electrical equipment (-0.38), automobiles (-1.70) and furniture (-1.05).

The production in July-December 2023-24 as compared to July-December 2022-23 has increased in food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, non metallic mineral products, machinery and equipment and other manufacturing (football) while it decreased in tobacco, textile, iron and steel products, electrical equipment, automobiles, other transport equipment and furniture.