LSMI grows by 5.38pc in FY 2017-18

ISLAMABAD: The Large Scaled Manufacturing Industries (LSMI) of the country witnessed a growth of 5.38 percent during the year 2017-18 compared to the corresponding period of last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 147.07 points during July-June (2017-18) against 139.55 points during July-June (2016-17), showing growth of over 5.38 per cent, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.

The highest growth of 13.24 percent was witnessed in the indices monitored by Oil Companies Advisory Committee (OCAC) followed by 5.04 percent growth in the products monitored by Ministry of Industries and 1.17 percent growth in Provincial Bureaus of Statistics (PBOS).

On yearly basis, the industrial growth increased by 0.51 percent during June 2018 as compared to same month of last year, however, on monthly basis, the industrial growth decreased by 8.3 percent in June 2018 when compared to growth of May 2018, the PBS data revealed.

Meanwhile, the major sectors that showed growth during July-June (2017-18) included textile (0.38 percent), food, beverages and tobacco (2.78 percent), coke and petroleum products (13.24 per cent), pharmaceuticals (2.94 percent), non metallic mineral products (11.04 percent), automobiles (17.82 percent), iron and steel products (21.78 percent), electronics (32.43 percent), paper and board (9.38 percent), engineering products (7.58 percent) and rubber products (6.21 percent).

On the other hand, the LSM industries that witnessed negative growth, included chemicals production of which declined by 0.23 percent, while the fertilizers production declined by 9.88 percent, leather products by 0.19 percent and wood products by 37.75 percent.

It is pertinent to mention here that 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.