Large industry grows 3.56 percent in four months

Large industry grows 3.56 percent in four months


ISLAMABAD: Large Scale Manufacturing Industries (LSMI) production grew by 3.56 percent during the first four months of the current fiscal year compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Thursday.

According to the latest PBS data, the LSMI Quantum Index (QIM) was recorded at 140.50 points from July to October (2021-22) and 135.66 points from July to October (2020-21), showing an increase 3.56%.

The highest increase of 2.26 percent during July-October (2021-22) was witnessed in the indices monitored by the Ministry of Industries, followed by 0.88 percent increase in indices monitored by the Provincial Board of Statistics (BOS) and 0.43 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

On year on year basis (YoY), the industry declined by 1.19 percent during the month of October 2021 compared to the growth of October 2020, according to PBS latest data.

The major sectors that showed positive growth during July-October (2021-22) included textile (0.91%), food, beverages and tobacco (5.15%), coke and petroleum products (7.33%), pharmaceuticals (6.55%), chemicals (3.14%), automobiles (37.91%), iron and steel products (11.62%), leather products (10.49%), paper and board (9.39%), engineering products (0.81%) and wood products (6.56%).

The commodities that witnessed negative growth included non-metallic mineral products (2.66%), fertilizers (7.23%), electronics (10.92%) and rubber products (32.23%).

It is worth mentioning here that the interim QIM is calculated based on the latest production data received from sources such as the Petroleum Company Advisory Committee (OCAC), the Ministry of Industry and Production (MoIP), and the Provincial Bureau of Statistics (PBoS).

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