Large Scale Manufacturing (LSM) has witnessed a marginal growth of 0.67 percent during the first four months of current fiscal year as compared to the same period of last year, according to Federal Bureau of Statistics (FBS). The growth is based on the latest production data of 100 items received from the Oil Companies Advisory Committee (OCAC), the Ministry of Industries and Production and Provincial Bureau of Statistics.
The FBS growth is based on the production figures of 100 items provided by the OCAC, Industries Ministry and Provincial Bureau of Statistics. The OCAC has reported a negative growth of 11.43 percent and 12.99 percent in petroleum products during July-October 2009-10 and October 2009 respectively over the same period of last year.
The Ministry of Industries and Production has reported a growth of 1.77 percent during July-October 2009-10 as compared to the same period of last year while Provincial Bureau of Statistics reported a growth of 1.02 percent for the same period. The LSM growth for October 2009 was reported by the Ministry of Industries and Provincial Bureau of Statistics 4.44 percent and 9.12 percent respectively as compared to the same month of last year.
Analysts say that prevailing law and order situation and high energy cost have been the major reasons for low growth of LSM and the government does not have any aggressive strategy to turn the sector around.
The government might not be able to achieve the growth target of LSM for the current fiscal they said adding, that the production cost of the industry would further escalate with the increase in energy price from next month as per agreement with the International Monetary Fund (IMF). The data provided by the OCAC of 11 petroleum products showed a negative growth in 10 items during the first four months of the current fiscal over the same period of last year.
Kerosene oil registered a negative growth of 32.79 percent, high speed diesel 9.59 percent, diesel oil 23.38 percent, furnace oil 19.50 percent, lubricating oil 3.39 percent jute batching oil 1.90 percent, solvent naphtha 25.02 percent, LPG 12.28 percent and jet fuel oil 0/38 percent. Petroleum Prod n.o.s witnessed 14.95 percent growth during the same period of last year.
The Ministry of Industries and Production has reported negative growth in the production of pig iron 37.25 percent while production of billets/ingots and HRC sheets/coil/plates witnessed a negative growth of 13.99 percent and 19.95 percent respectively for the same period. The coke was the only items in steel sector that witnessed a growth of 0.70 percent during July-October 2009-10 over the same period of last year.
In auto sector, the production of trucks, buses and light commercial vehicles (LCV) was declined by 14.51 percent, 4.76 percent and 38.86 percent respectively during July-October 2009-10 as compared to the same period of last year. The tractors, jeeps and cars and motorcycles were the only sectors in automotive whose production witnessed a growth of 33.23 percent, 7.51 percent and 45.80 percent respectively during the period under review.
The production of cotton yarn, cotton cloth, jute goods (total), Hessian, and sacking registered a negative growth of 2.22 percent, 0.70 percent, 12.92 percent, 4.47 percent and 19.16 percent respectively during July-October 2009-10 as compared to the same period of last year. The production of cigarettes has declined by 7.43 percent and caustic soda by 19.42 percent.
The growth of 7.74 percent was reported by the Ministry of Industries and Production in paper and board during the period under review, 13.19 percent in soda ash, 1.18 percent in nitrogen fertiliser, and 2.70 percent in phosphate fertilizer. The provincial Bureau of Statistics supplied production data of 54 items with negative growth in 24 items during July-October 2009-10.
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