Jul-Jan LSMI output falls 4.40pc YoY

ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 4.40% during the first seven months (July-January) of 2022-23 when compared with the same period of last year, says the Pakistan Bureau of Statistics.

According to the provisional Quantum Index numbers (QIM) of the Large Scale Manufacturing Industries, the LSMI output decreased by 7.9% for January 2023 when compared with January 2022 and increased by 1.48% when compared with December 2022.

The LSMI Quantum Index Number (QIM) was estimated for July-January, 2022-23 at 115.45, while it was estimated for January 2023 at 126.85.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for January 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e. OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureau of Statistics (BoS).

Jul-Nov LSMI output declines 3.58pc YoY

The LSM data released by the PBS with the base year 2015-16 showed that the main contributors towards the overall growth of 4.40% are, food (-0.32), tobacco (-0.55), textile (-2.71) garments (3.81), petroleum products (-0.69), cement (-0.86), pharmaceuticals (-1.22), and automobiles (-1.55).

The production in July-January 2022-23 as compared to July-January 2021-22 has increased in wearing apparel, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.

The sectors showing growth during July-January include wearing apparel (44.47%), leather products (4.98%), furniture (73.80%) and other manufacturing (football) (48.26%).

The sectors showing decline during the July-January include food (1.90%), beverages (7.38%), tobacco (21.69%), textile (13.21%), wood products (67.81%), paper and board (3.80%), coke and petroleum products (9.86%), chemicals (3.58%), chemicals products (1.04% increased), fertilizers (5.31%), pharmaceuticals (21.92%), rubber products (7.68%), non-metallic mineral products (10.22%), iron and steel products (3.11%), fabricated metal (13.97%), computer, electronics and optical products (22.83%), machinery and equipment (51.92%), automobiles (34.85%), other transport equipment (38.49%).

The petroleum products production witnessed a decline of 9.86% during July-January 2022-23 as its indices went down to 89.33 from 99.09 during July-January 2021-22.

High-speed diesel witnessed 10.94% negative growth as its output remained 2.810 billion litres in July-January 2022-23 compared to 3.156 billion liters in July-January 2021-22.

Furnace oil witnessed 7.62 negative growth in output and remained 1.373 billion litres in July-January 2022-23 compared to 1.486 billion litres in July-January 2021-22. Jet fuel oil witnessed a growth of 17.70% and remained 524.136 million litres in July-January 2022-23 compared to 445.324 million litres in July-January 2021-22. Kerosene oil witnessed 32.48% negative growth in July-January 2022-23 and remained 55.933 million litres compared to 82.843 million litres.

According to the PBS data, cement production witnessed 13.06% negative growth in July-January 2022-23 and remained 24.217 million tons compared to 27.854 million tons in July-January 2021-22.

Copyright Business Recorder, 2023