ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 10.26 percent during the fiscal year 2022-23 when compared with the same period of 2021-22, says the Pakistan Bureau of Statistics (PBS).
According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 14.96 percent for June 2023 when compared with June 2022 and increased by 0.98 percent when compared with May 2023.
The LSMI Quantum Index Number (QIM) was estimated for June 2023 is 112.21. QIM estimated for July-June 2022-23 is 114.83.
July-May LSMI output declines 9.87pc YoY
The provisional quantum indices of LSMI for June 2023 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e. the OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureau of Statistics (BoS).
The main contributors towards overall growth of -10.26 percent are, food (-1.14), tobacco (-0.65), textile (-3.65) garments (2.79), petroleum products (-0.89), chemicals (-0.52), pharmaceuticals (-1.85), cement (-0.86), iron and steel products (-0.24), electrical equipment (-0.54), and automobiles (-2.21).
The production in July-June 2022-23 as compared to July-June 2021-22 has increased in wearing apparel, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke and petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.
The sectors showing growth during July-June include wearing apparel (27.16per cent), leather products (1.29), furniture (35.51per cent) and other manufacturing (football) (28.99per cent).
The sectors showing decline during the July-June include food (6.90per cent), beverages (6.43per cent), tobacco (28.36per cent), textile (18.68 per cent), wood products (59.81per cent), paper and board (8.66per cent), coke and petroleum products (23.39per cent), chemicals (6.96per cent), chemicals products (3.99per cent increased), fertilisers (9per cent), pharmaceuticals (28.85per cent), rubber products (4.97per cent), non-metallic mineral products (12.10per cent), iron and steel products (5.12per cent), fabricated metal (16.07per cent), computer, electronics and optical products (30.34per cent), electrical equipment (15.46per cent), machinery and equipment (45.23per cent), automobiles (49.99per cent), and other transport equipment (40.44per cent).
The petroleum products production witnessed a decline of 13.39per cent during July-June 2022-23 as its indices went down to 86.91 from 103.21 during July-June 2021-22.
High-speed diesel witnessed 17.09per cent negative growth as its output remained 4.655 billion litres in July-June 2022-23 compared to 5.614 billion liters in July-June 2021-22.
Furnace oil witnessed 14.65 negative growth in output and remained 2.191 billion litres in July-June 2022-23 compared to 2.567 billion litres in July-June 2021-22. Jet fuel oil witnessed a growth of 6.63per cent and remained 867.573 million litres in July-June 2022-23 compared to 813.663 million litres in July-June 2021-22.
Kerosene oil witnessed 5.54per cent negative growth in July-June 2022-23 and remained 113.574 million litres compared to 120.234 million litres.
According to the PBS data, cement production witnessed 13.67 per cent negative growth in July-June 2022-23 and remained 41.448 million tons compared to 48.011 million tons in July-June 2021-22.
Copyright Business Recorder, 2023