ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output decreased by 6.78 percent in August 2020 compared to July 2020, as almost all of the major manufacturing sectors posted negative growth, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.
According to provisional Quantum Index numbers (QIM) of Large Scale Manufacturing Industries, the LSMI output increased by 1.19 percent, for August 2020 compared to August 2019, and increased by 3.66 percent for July-August 2020-2021, when compared to the same period of last year.
LSMI Quantum Index Number (QIM) was recorded at 130.91 points during July-Aug 2020-2021 against 126.28 points during the same period of the preceding year. 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 growth of negative 8.75 percent in August 2020 against previous month, and negative 5.36 percent growth was recorded year-on-year in August 2020 against August 2019.
The data showed that Ministry of Industry-related sectors witnessed a decline of 6.7 percent in August 2020 against July 2020 on MoM basis, while YoY basis, it registered a growth of 2.33 percent in August 2020 as compared with the same month of the 2019.
The PBS data said that LSM-related data to the BOS month-on-month witnessed a decline of 6.54 percent in August 2020 against the previous month and on YoY basis, BOS witnessed a slight growth of 0.15 percent in August 2020 against August 2019.
The production in July-August 2020-2021 as compared to July-August 2019-2020 has increased in textile, food, beverages and tobacco, coke and petroleum products, pharmaceuticals, non-metallic mineral products and paper and paperboard, while it decreased in automobiles, iron and steel products, electronics and leather products.
The sectors showing decline during July-August 2020-2021 compared to July-August 2019-20 included automobiles output fell 18.81 percent, iron and steel products 10.39 percent, electronics 24.63 percent and leather products 0.49 percent, wood products 70.45 percent, engineering products 38.66 percent, and fertilizers 0.80 percent.
Textile, the top contributing sector to the overall big industry output, increased by 1.79 percent, coke and petroleum products 5.71 percent, pharmaceuticals 10.03 percent, chemicals 9.70 percent, non-metallic mineral products 23.05 percent, paper and board 9.83 percent, and rubber products 4.69 percent during July-August 2020-2021 compared to the same period last year.
Most of the 11 components, under the OCAC, showed negative growth in August 2020 compared to August 2019. The petroleum sector witnessed a decline of 5.35 percent as its output went down from 1.16 billion litres to 1.09 billion litres on YoY basis, while on MoM basis petroleum sector witnessed a growth of 5.7 percent as its output jumped from 2.17 billion litres to 2.3 billion litres.
However, the PBS has not issued any sugar-related data. High speed diesel witnessed 5.9 percent growth as its output remained 452 million litres in August 2020 compared to August 2019, and 17 percent increase in July-August 2020-2021, and remained 944 million litres compared to 807 million litres, during the same period of last year.
Furnace oil witnessed 10 percent decline in output and remained 210 million litres in August 2020 compared to August 2019, and 0.7 percent decline in July-August 2020-2021, and remained 440.9 million litres compared to 444.4 million litres, during the same period of last year. Motor spirit witnessed 8.56 percent increase in August 2020, and remained 262 million litres compared to 242.1 million in August 2019, and witnessed 25 percent growth in July-August 2020-2021 and remained 545.87 million litres compared to 434.506 million litres, during the same period of last year.
The LPG witnessed 8.8 percent growth in August 2020 and remained 70 million compared to 65 million litres and 6.7 percent growth in July-August 2020-2021 and remained 138 million litres compared to 129 million litres during the same period of last year.
Copyright Business Recorder, 2020
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