ISLAMABAD: The Large Scale Manufacturing (LSM) sector has shown a growth of 0.92 per cent during fiscal year (July-June) 2023-24 when compared with the same period of last year (2022-23), says Pakistan Bureau of Statistics (PBS).
The LSMI output decreased by 0.03per cent for June, 2024 when compared with June 2023 and 4.70per cent when compared with May 2024.
The provisional quantum indices of Large Scale Manufacturing Industries for June 2024, with the base year 2015-16, have been developed on the basis of the latest data supplied by the source agencies.
According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for June 2024 is 108.61. QIM estimated for July-June, 2023-24 is 115.83.
The main contributors towards overall growth of 0.92 per cent are, food (0.30per cent), tobacco (-0.42per cent), textile (-0.93per cent) garments (1.19per cent), petroleum products (0.63per cent), chemicals (0.41per cent), pharmaceuticals (0.80per cent), non-metallic mineral products (-0.36per cent), iron and steel products (-0.22per cent), electrical equipment (-0.31per cent), automobiles (-0.62per cent), and furniture (0.37per cent).
The production in July-June 2023-24 as compared to July-June 2022-23 has increased in food, wearing apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment and furniture while it decreased in tobacco, textile, paper and board, non-metallic mineral products, iron and steel products, electrical equipment, automobiles and other transport equipment.
The sectors showing growth during July-June 2023-24 compared to July-June 2022-23 are food (1.73 per cent), wearing apparel (8.24 per cent), leather products (5.66 per cent), wood products (11.79 per cent), coke and petroleum products (9.81 per cent), chemicals (5.26 per cent), chemicals products (-3.42 per cent), fertilisers (11.58 per cent), pharmaceuticals (15.72 per cent), machinery and equipment (45.52 per cent), other manufacturing (7.60 per cent), and furniture (14.96 per cent).
The sectors showing decline during July-June 2023-24 compared to July-June 2022-23 are beverages (2.10 per cent), tobacco (23.01 per cent), textile (5.23 per cent), paper and board (0.43 per cent), non-metallic mineral products (5.31 per cent), iron and steel products (4.42 per cent), fabricated metal (7.79 per cent), computer, electronics and optical products (12.44 per cent), electrical equipment (9.47 per cent), automobiles (25.03 per cent), and other transport equipment (4.02 per cent).
The petroleum products witnessed an increase of 9.81 per cent as its indices went up to 95.30 during July-June 2023-24 compared to 86.79 during July-June 2022-23. Petroleum products production witnessed a decrease of 3.35 per cent in June 2024 when compared to May 2024 and 28.30 per cent increase when compared to June 2023.
High-speed diesel witnessed 14.71 per cent growth as its output remained 5.339 billion litres in July-June 2023-24 compared to 4.655 billion litres in July-June 2022-23.
Furnace oil witnessed 20.19 per cent growth in output and remained 2.633 billion litres in July-June 2023-24 compared to 2.191 billion litres in July-June 2022-23. Jet fuel oil witnessed a negative growth of 7.90 per cent and remained 799 million litres in July-June 2023-24 compared to 867.573 million litres in July-June 2022-23.
Cement witnessed 4.54 per cent negative growth in output and remained 39.566 million tonnes in July-June 2023-24 compared to 41.448 million tonnes in July-June 2022-23.
Copyright Business Recorder, 2024
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