Pakistan's LSMI Output Increase 6.6pc in October

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) showed an increase in output in the month of October 2020.

According to provisional Quantum Index numbers (QIM) of Large Scale Manufacturing Industries released by Pakistan Bureau of Statistics (PBS), The LSMI output increased by 6.66 percent for October, 2020 compared to October, 2019 and 3.95pc if compared to September 2020.

Meanwhile, the overall output of LSMI increased by 5.46 percent for July-October 2020-21 as compared to July-October 2019-20.

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 3.97 percent in October 2020 against previous month, and negative 1.67 percent growth was recorded year-on-year in October 2020 against October 2019.

The data showed that Ministry of Industry-related sectors witnessed a decline of 6.70 percent in October 2020 against September 2020 on MoM basis, while YoY basis, it registered a growth of 8.87 percent in October 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 2.07 percent in October 2020 against the previous month and on YoY basis, BOS witnessed a growth of 3.43 percent in October 2020 against October 2019.

The production in July-October 2020-21 as compared to July-October 2019-20 has increased in Textile, Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non Metallic Mineral Products, Fertilizers and Paper & Paperboard while it decreased in Automobiles, Iron & Steel Products, Electronics and Leather Products.