ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) of the country witnessed a growth of 6 per cent during the first eleven months of the current fiscal year compared to the corresponding period of last year.
The country’s LSMI Quantum Index Numbers (QIM) was recorded at 149.19 points during July-May (2017-18) against 140.75 points during July-May (2016-17), showing growth of 6 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS).
The highest growth of 3.62 per cent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.58 per cent growth in the products monitored by the Provincial Bureaus of Statistics (PBoS) and a 0.80 per cent growth in the indices of the Oil Companies Advisory Committee (OCAC).
On a year-to-year basis, the industrial growth increased by 2.76 per cent during May 2018 as compared to same month of last year, however, on a month-to-month basis, the industrial growth decreased by 11.63 per cent in May 2018 when compared to growth of April 2018, the data from PBS revealed.
Meanwhile, the major sectors that showed growth during July-May (2017-18) included textile (0.38 per cent), food, beverages and tobacco (6.15 per cent), coke and petroleum products (13.53 per cent), pharmaceuticals (1.65 per cent), non metallic mineral products (11.94 per cent), automobiles (18.03 per cent), iron and steel products (22.02 per cent), electronics (36 per cent), paper and board (8.28 per cent), engineering products (7.03 per cent) and rubber products (6.25 per cent).
On the other hand, the LSM industries that witnessed negative growth, included chemicals production of which declined by 0.71 per cent, while the fertilizers production declined by 9.95 per cent, leather products by 10.36 per cent and wood products by 36.27 per cent.
It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS). OCAC provides data on 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.