AGL 38.80 Decreased By ▼ -0.78 (-1.97%)
AIRLINK 129.30 Decreased By ▼ -1.92 (-1.46%)
BOP 7.03 Increased By ▲ 0.22 (3.23%)
CNERGY 4.61 Decreased By ▼ -0.10 (-2.12%)
DCL 8.41 Decreased By ▼ -0.03 (-0.36%)
DFML 40.90 Decreased By ▼ -0.57 (-1.37%)
DGKC 80.99 Decreased By ▼ -1.10 (-1.34%)
FCCL 32.55 Decreased By ▼ -0.55 (-1.66%)
FFBL 71.55 Decreased By ▼ -1.32 (-1.81%)
FFL 12.24 Decreased By ▼ -0.02 (-0.16%)
HUBC 109.45 Decreased By ▼ -1.29 (-1.16%)
HUMNL 13.95 Decreased By ▼ -0.56 (-3.86%)
KEL 5.05 Decreased By ▼ -0.14 (-2.7%)
KOSM 7.60 Decreased By ▼ -0.01 (-0.13%)
MLCF 38.24 Decreased By ▼ -0.66 (-1.7%)
NBP 68.02 Increased By ▲ 4.01 (6.26%)
OGDC 189.47 Decreased By ▼ -3.35 (-1.74%)
PAEL 25.09 Decreased By ▼ -0.59 (-2.3%)
PIBTL 7.43 Increased By ▲ 0.09 (1.23%)
PPL 148.95 Decreased By ▼ -5.12 (-3.32%)
PRL 25.25 Decreased By ▼ -0.58 (-2.25%)
PTC 17.25 Decreased By ▼ -0.56 (-3.14%)
SEARL 80.50 Decreased By ▼ -1.80 (-2.19%)
TELE 7.55 Decreased By ▼ -0.21 (-2.71%)
TOMCL 32.80 Decreased By ▼ -0.66 (-1.97%)
TPLP 8.30 Decreased By ▼ -0.19 (-2.24%)
TREET 16.80 Increased By ▲ 0.18 (1.08%)
TRG 57.30 Decreased By ▼ -0.10 (-0.17%)
UNITY 27.99 Increased By ▲ 0.48 (1.74%)
WTL 1.33 Decreased By ▼ -0.04 (-2.92%)
BR100 10,495 Decreased By -9.1 (-0.09%)
BR30 30,830 Decreased By -396.8 (-1.27%)
KSE100 97,989 Decreased By -90.6 (-0.09%)
KSE30 30,546 Decreased By -12.5 (-0.04%)

Large Scale Manufacturing (LSM) growth has decelerated and witnessed a decline of some 4 percent during the first month of the current fiscal year due to negative economic indicators, high interest rates, and shortage of utilities.
LSM already had presented poor performance during the last fiscal year and registered a six-year lowest growth of 3.76 due to the political uncertainty, power shortage, and deteriorating law and order situation.
The performance of the manufacturing sector had been impressive during the last five years, as it had posted an average growth over 10 percent per annum since 2003. However, the battles on political front, poor law and order situation, and negative economic indicators have pushed the LSM growth in a downward side.
The Federal Bureau of Statistics (FBS) on Tuesday informed that the Quantum Index Number of LSM industries shows a negative trend of some 3.85 percent during July 2008 as compared to July 2007.
The Quantum Index Number of LSM industries stood at 196.64 points in July 2008 as compared to 204.52 points in July 2007. Official provisional statistics of Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) of FBS depicting the production of major industries in the country have not been growing.
QIM shows the industrial productivity of the 100 items received from different sources ie Oil Companies Advisory Committee (OCAC), Ministry of Industries & Production and Provincial Bureaus of Statistics. The OCAC supplied the data of 11 items, the Ministry of Industries & Production supplied the data of 35 items and Provincial Bureaus of Statistics provided data for 54 items.
Major share in present negative growth has contributed by OCAC, as during the July 2008 OCAC index have declined by 5.14 percent to 173.94 points from 183.37 points while, the ministry of industries index has dipped by 3.35 percent to 185.25 points.
The LSM growth during July 2008 also has registered a decline of 7.21 percent in growth, when compared to June 2008. As in June 2008 QIM stood at 211 points. Economists said that poor law and order situation, high interest rates, shortage of power and other utilities are the major contributors to the slow growth of LSM in last fiscal year and in July 2008. The production of petroleum products has decreased by 5.14 percent during July. In addition the production of cigarettes, soda ash, motorcycles and tractors registered a growth of 20.30 percent, 0.36 percent, 1.40 percent and 10 percent, respectively during the first month of the current fiscal year.

Copyright Business Recorder, 2008

Comments

Comments are closed.