Daily Times

The overall output of large-scale manufacturing industries (LSMI) increased by 14.57 percent for July-May 2020-21 compared to the same period of the preceding fiscal year 2019-20.

According to data released by the Pakistan Bureau of Statistics (PBS), the LSMI output increased by 36.84 percent for May 2021 compared to the same month last year, while it decreased by 3.93 percent compared to April 2021.

The production in July-May 2020-21 as compared to July-May 2019-20 has increased in textile, food, beverages & tobacco, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, automobiles, iron & steel products, and fertilizers while it decreased in electronics, leather products, and rubber products.

The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) and the Ministry of Industries showed that the OCAC recorded month-on-month decline of 8.32 percent in May against previous month, and 4.15 percent growth year-on-year in May against May 2020.

The data showed that the Ministry of Industry-related sectors witnessed negative growth of 6.49 percent month-on-month in May, while on a year-on-year basis it registered a growth of 45.06 percent. The PBS data said that LSM-related data to the BOS month-on-month witnessed 2.35 percent growth in May against the previous month, and on YoY basis, BOS witnessed a growth of 29.59 percent in May against May 2020.