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Business

LSMI output decreases 3.5pc in 11 months of FY 2018-19     

ISLAMABAD: The overall output of Large Scale Manufacturing Industries (LSMI) in the country during last 11 months of pre

Jul 24 2019

ISLAMABAD: The overall output of Large Scale Manufacturing Industries (LSMI) in the country during last 11 months of preceding year (2018-19) have observed negative growth of 3.5pc a compared the output of the corresponding period of last year.

According the data released by the Pakistan Bureau of Statistics here on Wednesday, the LSMI production had witnessed about 3.78pc reduction during the month of May, 2019 as compared the same month of last year, where as it was decreased by 7.97pc if compared with April, 2019.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for May, 2019 with base year 2005-06 have been developed on the basis of latest data supplied by the source agencies, it added.

It said that the manufacturing sector that had observed positive growth during 11 months of financial year 2018-19 including fertilizers by 0.34pc, electronics 0.59pc and leather sector grew by 0.03pc as compared the same period of last year.

Meanwhile, from July-May, 2018-19, the output of engineering sector in the country had recorded about 0.02pc growth, rubber products 0.01pc and wood products increased by 0.00pc respectively.

The sector showing decline trend during the period from July-May, 2018-19 included textile by 0.08pc, food, beverages and tobacco by 1.49pc, coke and petroleum products 0.45pc, pharmaceuticals 0.57pc and chemicals production was reduced by 0.08pc.

Meanwhile, the data reveled that the production of non-metallic minerals products went down by 0.38pc, automobiles by 0.85pc, iron and steel products reduced by 0.48pc, it added.

Copyright APP (Associated Press of Pakistan), 2019