ISLAMABAD: The overall Large Scale Manufacturing (LSM) sector has shown a growth of -0.52 percent during the first seven months (July-January) 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).

The Large Scale Manufacturing Industries (LSMI) output increased by 1.84 percent for January 2024 when compared with January 2023 and 0.03 percent when compared with December 2023.

According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for January 2024 is 132.43. QIM estimated for July-January, 2023-24 is 116.94.

The provisional quantum indices of LSMI for January 2024 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies.

The main contributors towards overall growth of -0.52 percent are, food (0.38), beverages(0.12), tobacco (-0.82), textile (-1.90) garments (0.86), paper and board (-0.10), petroleum products (0.44), chemicals (0.46), pharmaceuticals (1.32), iron and steel products (-0.05),electrical equipment (-0.31), automobiles (-1.38) and furniture (0.31).

The production in July-January 2023-24 as compared to July-January 2022-23 has increased in food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilisers, pharmaceuticals, machinery and equipment and furniture while it decreased in tobacco, textile, paper and board, iron and steel products, electrical equipment, automobiles, and other transport equipment.

The sectors showing growth during July-January 2023-24 compared to July-January 2022-23 are food (2.26 percent), beverages (2.90 percent), wearing apparel (5.91 percent), leather products (4.40 percent),wood products (11.61 percent), coke and petroleum products (6.78 percent), chemicals (6.05 percent), chemicals products (-3.10 percent), fertilizers (12.59 percent), pharmaceuticals (29.50 percent), rubber products (1.62 percent), machinery and equipment (80.11 percent), furniture (11.58 percent), and other manufacturing (0.44 percent).

The sectors showing decline during July-January 2023-24 compared to July-January 2022-23 are tobacco (40.48 percent), textile (10.41 percent), paper and board (4.40 percent), non-metallic mineral products (0.37 percent),iron and steel products (1.07 percent), fabricated metal (3.79 percent), computer, electronics and optical products (19.11 percent), electrical equipment (9.36 percent), automobiles (46.21 percent), and other transport equipment (14.06 percent).

The petroleum products production witnessed an increase of 6.78 percent during July-January 2023-24 as its indices went up to 95.38 from 89.33 during July-January 2022-23. Petroleum products production witnessed a decrease of 2.42 per cent in January 2024 when compared to January 2023 and 13.08 percent when compared to December 2023.

High-speed diesel witnessed 11.07 percent growth as its output remained 3.122 billion litres in July-January 2023-24 compared to 2.810 billion litres in July-January 2022-23. On MoM basis high-speed diesel output registered 9.51 percent decline.

Furnace oil witnessed 113.48 percent growth in output and remained 1.558 billion litres in July-January 2023-24 compared to 1.373 billion litres in July-January 2022-23. On MoM basis furnace oil registered 36.43 percent negative growth while on YoY basis registered 16.37 percent decline. Jet fuel oil witnessed a negative growth of 9.93 percent and remained 472.101 million litres in July-January 2023-24 compared to 524.136 million litres in July-January 2022-23.

Kerosene oil witnessed 1.25 percent growth in July-January 2023-24 and remained 56.633 million litres compared to 55.933 million litres in July-January 2022-23.

According to the PBS data, cement production witnessed 0.05 percent growth in July-January 2023-24 and remained 24.241 million tons compared to 24.229 million tons in July-January 2022-23.

Copyright Business Recorder, 2024