Large scale manufacturing grows 7.6pc in 7 months

Pakistan Bureau of Statistics reported that Large Scale Manufacturing Industries (LSMI) production grew by 7.6 per cent during the first seven months of the current fiscal year as compared to the corresponding period of last year.

The growth of LSM in January 2022 recorded 8.2 per cent over the corresponding month of the last year and 4.2 per cent over the previous month, showing a healthy performance in almost all categories.

The calculation of data during July-January 2021-22, was made while taking the financial year 2015/16 as the base year.

During July-January 2021-22, production of products that increased include food, tobacco, textile, wearing apparel, chemicals, iron and steel products, automobiles and furniture while production of fertilizer, pharmaceuticals, rubber products, and electrical equipment decreased over the same period of last year.

Provincial bureau of statistics, counting production of 65 products, recorded 9.7 per cent growth in July-Jan 2021-22 over the corresponding period of FY21. In January 2022, its output increased 9.3 per cent over the corresponding month, while its production reduced by 1.7 per cent over the previous month.

The Ministry of Industries, which included at least 36 items for measuring the growth, recorded a 6.9 per cent growth in production during these seven months of FY22. In January 2022, it grew by 8.5 per cent over the corresponding month and 7.8 per cent over December 2021.

Oil Companies Advisory Council (OCAC), logging outputs of 11 oil and petroleum products, measured growth of 0.5 per cent year-over-year in outputs in July-Jan FY22. In January 2022, it, however, declined by 1 per cent over the same month of last year and 10.7 per cent positive growth over the previous month.

During July-Jan FY22, the food sector grew 3.4 per cent, beverages 2.5 per cent, tobacco 21.9 per cent, textiles 2.9 per cent, wearing apparels 18.3 per cent, leather products 4.5 per cent, wood products 172.2 per cent, paper and board 8.2 per cent, coke and petroleum products 0.5 per cent, chemical products 15.5 per cent, iron & steel products 17.5 per cent, machinery & equipment 20.6 per cent, automobiles 63.5 per cent, furniture 553 per cent and other manufacturing (football) 22.2 per cent over the same period of last year.

However, fertilizer production declined 0.5 per cent, fabricated metal minus 5.5 per cent, and computer, electronics, and Optical products reduced by 1.1 per cent. Besides, pharmaceuticals output also decreased by 3.5 per cent, rubber products 25.5 per cent, and electronics production down by 1.2 per cent.