ISLAMABAD: Large Scale Manufacturing (LSM) growth increased by 5.02 percent in July 2020 compared to the same month a year before (July 2019), and 9.54 percent over previous month of June 2020, according to the Pakistan Bureau of Statistics (PBS).

The LSM data has been released by the PBS on Tuesday after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) and Ministry of Industries showed that OCAC recorded year-on-year growth of one percent in July 2020 compared to the same month a year before, and 1.25 percent in July 2020 over previous month of June 2020.

The Ministry of Industries growth was recorded by 2.25 percent year-on-year in July 2020 over the same month of last fiscal year (July 2019), and 7.57 percent month-on-month in July 2020 (over June 2020), while the BOS year-on-year growth of 1.77 percent was recorded in July 2020 over the same month of last fiscal year, and 0.72 percent month-on-month in July 2020 over June 2020.

According to the PBS, the production in July 2020 as compared to July 2019 has increased in food, beverages and tobacco, coke and petroleum products, pharmaceuticals and non-metallic mineral products, while it decreased in automobiles, iron and steel products, fertilisers, electronics, and leather products.

Year-on-year growth impact of textile sector was 0.49 percent.

Food, beverages and tobacco 3.01 percent, coke and petroleum products one percent, pharmaceuticals 1.41 percent, non-metallic mineral products 3.56 percent, and paper and board 0.20 percent.

The sectors showing decline in production during July-20 compared to July-19 included; (i) automobiles negative 1.54 percent growth, iron and steel products negative 0.49 percent growth, fertilisers negative 0.36 percent growth electronics negative 1.51 percent, growth, leather products negative 0.57 percent growth, engineering products negative 0.10 percent growth, and rubber products negative 0.08 percent growth.

Copyright Business Recorder, 2020