July-November LSM registers 2.48 percent growth YoY

The country's Large Scale Manufacturing registered a positive growth of 2.48 percent in July-November 2014-15 over the corresponding period of 2013-14, according to the data released by Pakistan Bureau of Statistics (PBS), here on Thursday. The PBS data further revealed that the provisional Quantum Index Numbers (QIM) of Large Scale Manufacturing Industries was recorded at 114.20 points in July-November (2014-15) against 111.43 points during the same period of fiscal year 2013-14.
The Provisional QIM has been computed on the basis of latest production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries & Production (MoIP) and Provincial Bureaus of Statistics (PBoS). The OCAC provides data of 11 items, MoIP of 36 items while PBoS provides data of remaining 65 items.
According to the PBS data, the highest growth of 1.28 percent was witnessed in the indices of Provincial Bureaus of Statistics (PBoS) that increased from 142.61 in July-November 2013-14 to 149.13 during the same period of the on-going fiscal year. Similarly, the indices of OCAC increased from 98.28 during last year to 100.97 during the current fiscal year, reflecting a growth of 0.19 percent. Whereas, the indices of Ministry of Industry increased from 103.20 during July-November 2013-14 to 104.81 during the July-November 2014-15, showing a growth of 1.02 percent.
Month-on-month basis, the overall industrial growth increased by 0.77 percent during November 2014 over October 2014, rising from 114.60 points (October 2014) to 115.48 (November 2014), while year-on-year basis, the industrial growth increased by 4.89 percent during November 2014 over November 2013, rising from 110.10 point (November 2013) to 115.48 (November 2014). The major sectors, which showed growth during July-November 2014-15 as compared to July-November 2013-14 included iron and steel products, which increased by 24.58 percent.
The other LSM industries that witnessed positive growth included automobiles 13.47 percent, electronics 8.58 percent, chemicals 7.02 percent, leather products 6.41 percent, coke and petroleum products 4.13 percent, non metallic mineral products 3.47 percent, pharmaceuticals 3.26 percent, rubber products 3.49 percent, textile 0.73 percent, food beverages & tobacco 0.62 percent and engineering products production grew by 0.30 percent during the period under review.
On the other hand, the LSM industries that witnessed negative growth during July-November 2014-15 as compared to July-November 2013-14 included wood products units, production of which decreased by 77.61 percent, fertilisers industry witnessed negative growth of 2.54 percent during the period under review while production of paper and board decreased by 0.98 percent in July-November 2014-15 as compared to July-November 2013-14.