Jul-Oct LSMI output up 3.56pc YoY

ISLAMABAD: The growth in Large Scale Manufacturing Industries moderated to 3.56 percent in the first four months of current fiscal year, as the industries were poised to face the impact of high input prices and shortage of gas in the winter. The overall output of the LSMI increased by 3.56 percent for July-October 2021-22 compared to July-October 2020-21, says the Pakistan Bureau of Statistics (PBS) data released on Thursday.

In the first two months of the current fiscal year, the LSM sector had registered a growth of 7.3 percent that slowed down in September and October.

According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 1.19 percent for October 2021 compared to October 2020 and increased by1.86 per cent, if compared to September 2021.

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 9.82 percent in October 2021 against the previous month and 14.75 percent growth was recorded year-on-year in October 2021 against October 2020.

The data showed that the Ministry of Industries-related sectors witnessed growth of 3.08 percent in October 2021 against September 2021 on MoM basis, while year-on-year basis, it registered a negative growth of 1.21 percent in October 2021 as compared with the same month of 2020.

The PBS data said that the LSM-related data to the BOS month-on-month witnessed a decline of 2.57 percent in October 2021 against the previous month and on YoY basis, the BOS witnessed a negative growth of 4.33 percent in October 2021 against October 2020.

The production in July-October 2021-22 as compared to July-October 2020-21 has increased in textile, food, beverages and tobacco, pharmaceuticals, cook and petroleum products, chemicals, automobiles, iron and steel products, paper and board, leather products, engineering products and wood products, while it decreased in non-metallic mineral products, fertilisers, electronics and rubber products.

FY21: LSMI output jumps 14.85pc YoY

Textile, the top contributing sector to the overall big industry output, increased by 0.91 percent, food, beverages and tobacco 5.15 percent, cook and petroleum products 7.33 percent, pharmaceuticals 6.55 percent, chemicals 3.14 percent, automobiles 37.91 percent, iron and steel products 11.62 percent, leather products 10.49 percent, engineering products 0.81 percent, paper and board 9.39 percent, and wood products 6.56 percent, during July-October 2021-22 compared to the same period of 2020-21.

The sectors showing decline during July-October 2021-22 compared to July-October 2020-21 included non-metallic mineral products 2.66 percent, fertilisers7.23 percent, electronics 10.92 percent, and rubber products 32.23 percent.

The petroleum products on year-on-year witnessed growth of 7.33 percent as its output increased from 4.644 billion litres in July-October 2020-21 to 4.984 billion litres in July-October 2021-22.

High-speed diesel witnessed 4.98 percent growth in July-October 2021-22, and remained 1.958 billion litres compared to 1.865billion litres during the same period of last year.

Furnace oil witnessed 0.62 percent negative growth in July-October 2021-22 and remained 906.613 million litres compared to 912.290 million litres during the same period of last year.

Motor spirit witnessed growth of 8.58 percent in July-October 2021-22, and remained 1.175 billion litres compared to 1.082 billion litres during the same period of last year.

The LPG witnessed 11.62 percent growth in July-October 2021-22, and remained 305.806 million litres compared to 273.969 million litres during the same period of last year.

Jet fuel oil witnessed 28.35 percent growth in July-October 2021-22, and remained 232.159 million litres compared to 180.881 million litres during the same period of last year.

Kerosene oil witnessed 5.57 percent growth in July-October 2021-22, and remained 48.915 million litres compared to 46.333 million litres during the same period of last year.

Sugar production remained zero in July-October 2021-22 and was also zero in July-October, as shown by the PBS data.

Cement witnessed 2.74 percent negative growth in July-October 2021-22, and remained 15.982 million tonnes compared to 16.433 million tonnes during the same period of last year.

Tractors witnessed 14.40 percent growth in July-October 2021-22, and remained 17,427 numbers compared to 15,234 during the same period of last year.

Motorcycles witnessed 4.64 percent negative growth in July-October 2021-22, and remained 769,802 compared to 807,230 during the same period of last year.

Copyright Business Recorder, 2021