LSM registers 8.5pc year-on-year growth during August

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ISLAMABAD: Data released by Pakistan Bureau of Statistics on Wednesday revealed that large-scale manufacturing (LSM) had registered 8.5pc year-on-year (YoY) growth during August.

The government has targeted a 6.3p growth for LSM during FY 2017-18, whilst it rose 5.6pc during FY 2016-17, reported a local newspaper.

LSM holds a lion share of 80pc within manufacturing and contributes 10.7pc in overall GDP. Compared to this, small-scale manufacturing has a meagre share of 1.8pc in overall GDP and 13.7pc in manufacturing.

Ministry of Industries shared data regarding 36 items which revealed that they contributed 5.44pc to LSM growth during August. And data about 65 items released by provincial bureau of statistics disclosed contribution of 1.3pc from them.

Information released about production of 11 items by Oil Companies Advisory Committee (OCAC) showed they added 1.8pc to LSM growth during August.

Iron/Steel products registered a rise of 53pc, automobiles 19pc, wood products 15.7pc, pharmaceuticals 10.18pc, leather products 8.5pc, food beverages and tobacco 7.5pc, rubber products 1.8pc, fertilizers 0.17pc, textiles 0.56pc, non-metallic mineral products 7.8pc, chemicals 3.8pc and petroleum products 28.8pc.

A fall in electronics was registered during August of 4.5pc. Production of tractors registered a massive growth of 91.13pc in automobile sector, trucks 31.2pc, motorcycles 19.84pc and jeeps and cars 16.87pc.

Light commercial vehicles (LCVs) manufacture fell 10.04pc and of buses decreased by 13pc during August.

In the pharmaceutical sector, capsules registered a rise of 18.46pc, injection of 18.18pc, liquids/syrups by 8.6pc and tablets by around 9.6pc.

Cement registered growth of 8.18pc during August on the back of increased construction activity and fall in benchmark interest rate.

Sugar production registered a rise of 49.8pc during August due to increase in sugarcane crop and supported by domestic price rise and contributed by additional usage of ethanol for power generation by manufacturers.

Manufacture of diesel engines surged up by 300pc and of safety razor blades increased a paltry 1.82pc in the engineering sector.

 

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