ISLAMABAD: The overall Large Scale Manufacturing (LSM) sector has shown a growth of -0.39 per cent during the first half (July-December) of 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).
The Large Scale Manufacturing Industries (LSMI) output increased by 3.43 per cent for December 2023 when compared with December 2022 and 15.69 per cent when compared with November 2023.
According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for December 2023 is 132.87. QIM estimated for July-December, 2023-24 is 115.02.
The provisional quantum indices of LSMI for December 2023 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies.
The main contributors towards the overall growth of -0.39 per cent are, food (0.76), tobacco (-0.73), textile (-2.05) garments (2.26), paper and board (-0.12), petroleum products (0.55), chemicals (0.30), pharmaceuticals (1.43), cement (0.12), iron and steel products (-0.07), electrical equipment (-0.38), automobiles (-1.70), and furniture (-1.05).
The production in July-December 2023-24 as compared to July-December 2022-23 has increased in food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilisers, pharmaceuticals, non-metallic mineral products, machinery and equipment and other manufacturing (football) while it decreased in tobacco, textile, iron and steel products, electrical equipment, automobiles, other transport equipment and furniture.
The sectors showing growth during July-Dec 2023-24 compared to July-Dec 2022-23 are food (5.11 per cent), beverages (3.10 per cent), wearing apparel (15.14 per cent), leather products (3.34 per cent),wood products (8.84 per cent), coke and petroleum products (8.40 per cent), chemicals (3.76 per cent), chemicals products (-5.18 per cent), fertilizers (10.07 per cent), pharmaceuticals (31.82 per cent), rubber products (0.55 per cent), non-metallic mineral products (1.24 per cent), machinery and equipment (70.76 per cent) and other manufacturing (8.17 per cent).
The sectors showing decline during July-Dec 2023-24 compared to July-Dec 2022-23 are tobacco (36.72 per cent), textile (10.95 per cent), paper and board (5.06 per cent), iron and steel products (1.41 per cent), fabricated metal (2.23 per cent), computer, electronics and optical products (21.13 per cent), electrical equipment (10.85 per cent), automobiles (52.95 per cent), other transport equipment (14.86 per cent) and furniture (37.31 per cent).
The petroleum products production witnessed an increase of 8.40 per cent during July-December 2023-24 as its indices went up to 95.99 from 88.55 during July-December 2022-23. Petroleum products production witnessed an increase of 17.85per cent in December.
High-speed diesel witnessed 12.83 per cent growth as its output remained 2.708 billion litres in July-December 2023-24 compared to 2.4 billion litres in July-December 2022-23.
Furnace oil witnessed 18.92 per cent growth in output and remained 1.381 billion litres in July-December 2023-24 compared to 1.161billion litres in July-December 2022-23. Jet fuel oil witnessed a negative growth of 11.58 per cent and remained 397.039 million litres in July-December 2023-24 compared to 449.022 million litres in July-December 2022-23.
Copyright Business Recorder, 2024
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