ISLAMABAD: The Large Scale Manufacturing (LSM) sector has shown a growth of 0.99per cent during July-May 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).
The LSMI output increased by 7.33 per cent for May 2024 when compared with May2023 and 7.52per cent when compared with April 2024.
The provisional quantum indices of Large Scale Manufacturing Industries for May 2024, with the base year 2015-16, have been developed on the basis of the latest data supplied by the source agencies.
According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for May 2024 is 113.90. QIM estimated for July-May, 2023-24 is116.48.
The main contributors towards overall growth of 0.99 per cent are, food (0.29), tobacco (-0.46), textile (-1.07),garments (1.33), non-metallic mineral products (-0.30), petroleum products(0.54), chemicals (0.45), pharmaceuticals (0.87), iron and steel products (-0.18), electrical equipment (-0.27), automobiles (-0.73) and furniture (0.51).
The production in July-May 2023-24 as compared to July-May 2022-23 has increased in food, wearing apparel, coke and petroleum products, chemicals, fertilisers, 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-May 2023-24 compared to July-May 2022-23 are food (1.68 per cent), wearing apparel (9.33 per cent), leather products (5.59 per cent), wood products (12.02 per cent), coke and petroleum products (8.40 per cent), chemicals (5.81 per cent), chemicals products (-3.38 per cent), fertilisers (12.52 per cent), pharmaceuticals (17.54 per cent), machinery and equipment (46.93 per cent), other manufacturing (7.29 per cent), and furniture (21.27 per cent).
The sectors showing decline during July-May 2023-24 compared to July-May 2022-23 are beverages (3.51 per cent), tobacco (24.26 per cent), textile (6.04 per cent), paper and board (1.34 per cent), non-metallic mineral products (4.46 per cent), iron and steel products (3.75 per cent), fabricated metal (6.96 per cent), computer, electronics and optical products (13.57 per cent), electrical equipment (8.36 per cent), automobiles (28.73 per cent), and other transport equipment (4.88 per cent).
The petroleum products witnessed an increase of 8.40 per cent as its indices went up to 95.39 during July-May 2023-24 compared to 88 during July-May 2022-23. Petroleum products production witnessed a decrease of 8.07 per cent in May 2024 when compared to April 2024 and 17.17 per cent increase when compared to May 2023.
High-speed diesel witnessed 13.50 per cent growth as its output remained 4.905 billion litres in July-May 2023-24 compared to 4.321 billion litres in July-May 2022-23.
Furnace oil witnessed 18.44 per cent growth in output and remained 2.428 billion litres in July-May 2023-24 compared to 2.050 billion litres in July-May 2022-23. Jet fuel oil witnessed a negative growth of 9.57 per cent and remained 737.839 million litres in July-May 2023-24 compared to 815.936 million litres in July-May 2022-23.
Copyright Business Recorder, 2024