ISLAMABAD: The Large Scale Manufacturing (LSM) sector has shown a growth of 0.45 per cent during July-April 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).
The LSMI output increased by 5.76 per cent for April 2024 when compared with April 2023 and decreased by 8.14 per cent when compared with March 2024.
The provisional quantum indices of Large Scale Manufacturing Industries for April 2024, with the base year 2015-16, have been developed on the basis of the latest data supplied by the source agencies.
March LSMI output up 2.04pc YoY
According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for April 2024 is 106.35. QIM estimated for July-April, 2023-24 is 116.77.
The main contributors towards the overall growth of 0.45 per cent are, food (0.32), tobacco (-0.54), textile (-1.29) garments (0.93), petroleum products (0.49), chemicals (0.52), pharmaceuticals (0.97), cement (-0.20), iron and steel products (-0.13), electrical equipment (-0.26), automobiles (-0.86), and furniture (0.54).
The production in July-April 2023-24 as compared to July-April 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-April 2023-24 compared to July-April 2022-23 are food (1.81 per cent), wearing apparel (6.51 per cent), leather products (5.45 per cent), wood products (11.93 per cent), coke and petroleum products (7.58 per cent), chemicals (6.71 per cent), chemicals products (-3.09 per cent), fertilisers (13.88 per cent), pharmaceuticals (19.98 per cent), rubber products (1.36 per cent), machinery and equipment (55.78 per cent), other manufacturing (6.33 per cent), and furniture (21.57 per cent).
The sectors showing decline during July-April 2023-24 compared to July-April 2022-23 are beverages (3.47 per cent), tobacco (28.61 per cent), textile (7.26 per cent), paper and board (1.27 per cent), non-metallic mineral products (3.77 per cent), iron and steel products (2.75 per cent), fabricated metal (5.98 per cent), computer, electronics and optical products (14.66 per cent), electrical equipment (7.89 per cent), automobiles (33.14 per cent), and other transport equipment (7.15 per cent).
The petroleum products witnessed an increase of 7.58 per cent as its indices went up to 95.17during July-April 2023-24 compared to 88.47 during July-April 2022-23. Petroleum products production witnessed an increase of 2.34 per cent in April 2024 when compared to March 2024 and 35.73 per cent when compared to April 2023.
High-speed diesel witnessed 12.36 per cent growth as its output remained 4.431 billion litres in July-April 2023-24 compared to 3.943 billion litres in July-April 2022-23.
Furnace oil witnessed 16.34 per cent growth in output and remained 2.193 billion litres in July-April 2023-24 compared to 1.885 billion litres in July-April 2022-23. Jet fuel oil witnessed a negative growth of 10.55 per cent and remained 672.869 million litres in July-April 2023-24 compared to 752.216 million litres in July-April 2022-23.
Copyright Business Recorder, 2024