ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 2.49 percent during the first nine months of current fiscal year as compared to the corresponding period of last year.
The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 125.57 points during July-March (2014-15) against 122.52 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 5.23 percent was witnessed in the indices monitored by Provincial Bureaus of Statistics (PBOS) followed by Oil Companies Advisory Committee (OCAC) with 2.48 percent and the indices of Ministry of Industries with 1.48 percent.
On year-to-year basis, the industrial growth increased by 4.53 percent during March 2015 as compared to same month of last year while on month-to-month basis, the industrial growth increased by 1.77 percent in March 2015 when compared to growth of February 2015, the data revealed.
Meanwhile, the major sectors that showed growth during July-March (2014-15) included textile (0.50 percent), coke and petroleum products (4.73 percent), pharmaceuticals (6.38 percent) Chemicals (5.94 percent), non metallic mineral products (2.56 percent), automobiles (17.02 percent), iron and steel products (35.36 percent), fertilizers (0.95 percent), electronics (8.21 percent) and leather products (9.62 percent).
On the other hand, the LSM industries that witnessed negative growth, included food, beverages and tobacco (1.03 percent), paper and board (7.26 percent), engineering products (0.11 percent), wood products (0.50 percent) and rubber products (0.56 percent).
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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