ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 0.4 per cent during the first two months (July-August) of the current fiscal year 2022-23 when compared with the same period of last year, says the Pakistan Bureau of Statistics (PBS).
According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) the LSMI output increased by 0.6 per cent for August 2022 when compared with August 2021 and 3.9 per cent when compared with July 2022. The QIM estimated for August 2022 is 114.8 and for July-August 2022-23 is 112.6.
The LSM data released by the PBS with base year 2015-16 showed that the main contributors towards the overall growth of -0.4 per cent are, garments (5.3), petroleum products (-1.2), cement (-2.0), fertilizers (-0.2), and iron and steel products (0.5).
The production in July-August 2022-23 as compared to July-August 2021-22 has increased in wearing apparel, chemicals, iron and steel products, and furniture, while it decreased in food, beverages, tobacco, textile, coke and petroleum products, pharmaceuticals, rubber products, non-metallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles, and other transport equipment.
July LSMI output slumps 16.5pc MoM, 1.4pc YoY
The sectors showing growth during July-August include wearing apparel (60.9 per cent), leather products (11.5 per cent), wood products (4.3 per cent), paper and board (6.6 per cent), chemicals (2.8 per cent), chemicals products (14.7 per cent), fertilisers (-0.5 per cent), iron and steel products (11.7 per cent), furniture (174.1 per cent), and other manufacturing (football) (52.9 per cent).
The sectors showing decline during food (8.9 per cent), beverages (0.5 per cent), tobacco (43.5 per cent), textile (3.7 per cent), coke and petroleum products (16.1 per cent), pharmaceuticals (32.3 per cent), rubber products (2.9 per cent), non-metallic mineral products (19.7 per cent), fabricated metal (15.7 per cent), computer, electronics and optical products (5.1 per cent), electrical equipment (4.2 per cent), machinery and equipment (38 per cent), automobiles (19.7 per cent), other transport equipment (30.4 per cent).
The petroleum products production witnessed a decline of 16.1 per cent during July-August 2022-23 as its indices went down to 83.1 from 99.1 during July-August 2021-22. On month-on-month, petroleum products registered a 26.8 per cent decline in August 2022.
High-speed diesel witnessed 23 per cent negative growth as its output remained 719.139 million litres in July-August 2022 compared to 933.508 million in July-August 2021.
Furnace oil witnessed seven per cent negative growth in output and remained 378.807million litres in July-August 2022 compared to 407.134 million litres in July-August 2021. Jet fuel oil witnessed a growth of 56.6per cent and remained 150.189 million litres in July-August 2022 compared to 95.929 million litres in July-August 2021. Kerosene oil witnessed 23.4per cent negative growth in July-August 2022 and remained 18.676 million litres compared to 24.376 million litres in July-August 2021. Motor spirits registered negative growth of 13.5 per cent in July-August 2022 and remained 507.345 million litres compared to 586.473 million litres in July-August 2021.
According to the PBS data, cement production witnessed 30.6per cent negative growth in July-August 2022 and remained 5.170 million tons compared to 7.454 million tons in July-August 2021.
Copyright Business Recorder, 2022
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