LSM output grows 4pc in FY 2013-14

ISLAMABAD: The country's Large-Scale Manufacturing (LSM) output grew by 3.95 percent during the fiscal year 2013-14 compared to last year.

The Quantum Index Numbers (QIN) of LSM stood at 121.66 points during July- June (2013-14) as compared to 117.04 points in July-June (2012-13), according to the latest data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the LSM grew by 0.25 percent in June 2014 compared to the production of June 2013. The data showed that the QIN of LSM in June 2014 stood at 115.18 points against 114.89 points in June 2013.

However, on month-on-month basis, the LSM witnessed negative growth of 2.74 percent in June when compared to the growth of 114.89 points in May 2014.

The QIN shows industrial productivity of 100 items received from Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production, and provincial bureaus of statistics.

The OCAC provides data of 11 items, the Ministry of Industries and Production of 35 items while the provincial bureaus of statistics has been providing data of 54 items.

The official data for petroleum products compiled by OCAC showed positive growth of 0.50 percent in 2013-14 while that of provide by Ministry of Industry showed growth 2.01 percent and the indices monitored by Provincial Bureaus of Statistics (PoS) increased by 1.44 percent.

The items showing positive growth in July-June (2013-14) included textile, output of which increased by 1.32 percent, food, beverages and tobacco by 7.16 percent, coke and petroleum products by 6.22 percent, paper and board by 10.99 percent and fertilizers by 16.50 percent.

The other products that witnessed growth included electronics, production of which increased by 9.55 percent whereas the production of iron and steel products increased by 5.58 percent, leather products by 11.65 percent, chemicals by 6.87 percent, rubber products by 11.47 percent and the production of non- metallic mineral products increased by 0.79 percent.

On the other hand the LSM products that witnessed negative growth in production included wood products, output of which decreased by 27.57 percent.

Similarly, the production of engineering products decreased by 12.52 percent, automobiles by 2.56 percent while the production of pharmaceutical decreased by 0.17 percent.