ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 3.19 percent during the first two months of current fiscal year as compared to the corresponding period of last year.
The provisional Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 113.46 points during July-August (2014-15) against 109.96 points during July-August (2013-14), according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 2.50 percent was witnessed in the indices provided by Provincial Bureaus of Statistics (PBoS) followed by the indices of Ministry of Industries that increased by 0.76 percent while the indices monitored by Oil Companies Advisory Committee (OCAC) witnessed nominal negative growth of 0.07 percent.
On year-to-year basis, the industrial growth increased by 5.27 percent during August 2014 as compared to August 2013 while on month-to-month basis,the industrial growth increased by 2.16 percent during August 2014 when compared to growth of July 2014, the data revealed.
Meanwhile, the major sectors that showed growth during July-August (2014- 15) included textile (1.32 percent), food beverages and tobacco (9.61 percent), paper and board (1.03 percent), fertilizers (0.53 percent) and electronics (12.04 percent).
Similarly, the production of leather products went up by 2.95 percent, iron and steel products by 10.53 percent, rubber products by 15.73 percent, chemicals by 8.86 percent and non-metallic mineral products by 1.07 percent.
The production of engineering products also witnessed positive growth of 17.37 percent, pharmaceuticals by 4.49 percent and automobiles by 5.23 percent.
On the other hand, the LSM industries that witnessed negative growth, included wood products and coke and petroleum products, production of which decreased by 75.13 percent and 0.67 percent respectively during the period under review.
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 of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.
Tax collection, GDP growth rate and foreign exchange reserves and industrial growth were moving up, while the inflation was going down.
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