The production of Large Scale Manufacturing Industries (LSMI) in Pakistan has achieved a growth of 5.15 per cent during the first quarter of the current fiscal year (Q1FY22) compared to the corresponding period of last year, as per stats shared by the Pakistan Bureau of Statistics (PBS).

According to the PBS data, the biggest increase of 3.3 per cent during July-September of FY22 was witnessed in indices monitored by the Ministry of Industries. This increase was followed by a 1.57 per cent 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).

The industry recorded a growth of 1.19 per cent on a year on year basis (YoY) during the month of September 2021 compared to the growth of September 2020, according to PBS data.

 

The major industries that recorded a positive growth during the said period include textile sector 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 products 13.94pc, paper and board 13.12pc, engineering products 3.17pc and wood products recorded a growth of 4.44 per cent.

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

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

From : pk.mashable.com

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