Daily Times

The Large Scale Manufacturing Industries’ (LSMI) production grew by 2.25 percent during the first month of the current fiscal year (July) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

The LSMI Quantum Index Number (QIM) was recorded at 138.01 points during July 2021 against 134.97 points during July 2020, showing growth of 2.25 percent, according to latest PBS data.

The highest increase of 1.57 percent was witnessed in the indices monitored by the Provincial Boards of Statistics (PBoS), followed by 0.89 percent increase in indices monitored by the Ministry of Industries. However, the indices monitored by Oil Companies Advisory Committee (OCAC) witnessed negative growth of 0.22 percent.

The major sectors that showed positive growth during July 2021 included textile (0.35%), food, beverages and tobacco (0.09), pharmaceuticals (0.84%), chemicals (0.36%), automobiles (2.10%), iron and steel products (0.42%). fertilizers (0.22%), electronics (0.05%), leather products (0.10%) and engineering products (0.01%).

On the other hand, the LSM industries that witnessed negative growth in July 2021 included electronics coke and petroleum products (0.22%), non-metallic mineral products (1.56%), paper and board (0.32%) and rubber products (0.18%).

On a month-on-month basis, the industrial production declined by 5.03 percent during July when compared to the growth of 145.32 points during June 2020, the date revealed.