LSM grows 5.15pc in Q1FY22

Major sectors that showed positive growth included textile, tobacco, pharmaceuticals, automobiles, leather

ISLAMABAD: Pakistan’s Large Scale Manufacturing Industries (LSMI) production grew by 5.15 per cent during the first quarter of the current fiscal year (Q1FY22) compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Thursday.

As per details, the highest increase of 3.3pc during July-September FY22 was witnessed in indices monitored by the Ministry of Industries, followed by a 1.57pc increase in indices monitored by the Provincial Board of Statistics (PBS) and a 0.28pc increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

On year on year basis (YoY), the industry grew by 1.19pc during the month of September 2021 compared to the growth of September 2020, according to PBS data.

The major sectors that showed positive growth during the period under review included textile which grew by 0.80pc, food, beverages and tobacco which grew by 3.39pc, coke and petroleum products by 4.75pc, pharmaceuticals 11.53pc, chemicals 4.70pc, mon-metallic mineral products 1.44pc, automobiles 42.64pc, iron and steel products 13.77pc, leather produts 13.94pc, paper and board 13.12pc, engineering products 3.17pc and wood products registered a 4.44pc growth.

The commodities that witnessed negative growth included fertilisers which took a 2.66pc hit, electronics 4.51pc and rubber products 31.5pc.

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, Ministry of Industries and Production (MoIP) and PBS.

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