LSM grows 6.5pc in December, 2.13pc in first half of 2012-13

ISLAMABAD: The country's Large Scale Manufacturing (LSM) has registered positive growth of 2.13 percent during the first six months of the current fiscal year over the corresponding period of the last financial year.

On year on year basis, the LSM grew by 6.5 percent during the month of December 2013 when compared to the same month of last year, according to the data of Pakistan Bureau of Statistics (PBS).

The Quantum Index Numbers (QIN) of LSM stood at 107.96 points during July-December (2012-13) against 105.71 points during July-December (2011-12).

During the period under review, industries monitored by Oil Companies Advisor Committee (OCAS) registered increase of 0.63 percent while the indices of Ministry of Industries grew by 0.21 percent and that of Provincial Bureaus of Statistics by 1.29 percent.

The industrial items that witnessed growth during the first six months over the same period of last year included food beverages and tobacco (2.69pc), iron and steel products (19.3pc), coke and petroleum products (10.45pc), paper and board (34.84pc), rubber products (28.44pc), pharmaceuticals (6.5pc), non metallic mineral products (2.89pc) and Textile (0.24pc).

The items that witnessed decrease in production during the period included fertilizer (10.01pc), electronics (12.7pc), wood products (21.02pc), leather products (4.81pc), engineering products (12.47pc) and automobiles (9.08pc).

Meanwhile, the industrial growth during December 2012 witnessed negative growth of 1.12 percent when compared to the growth of November 2012.

The items that witnessed growth in December 2012 over the same month of last year included iron and steel products (33.02pc), coke and petroleum products (13.5pc), paper and board (40.61pc), rubber products (20.38pc), pharmaceuticals (4.14pc), non metalic mineral products (0.69pc), fertilizers (17.46pc), leather products (0.16pc), food beverages & tobacco (10.22pc), chemicals (2.05pc) and textile (1.49pc).

The items that witnessed decrease in production during December included electronics (9.92pc), wood products (28.58pc), engineering products (12.47pc) and automobiles (5.2pc).

It may be recalled that the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) has been computed in FBS on the basis of latest production data of 112 items received from sources, including OCAC, Ministry of Industries and Production and BOS.

OCAC supplied the data of 11 items, Ministry of Industries and Production supplied the data of 36 items and Provincial Bureaus of Statistics provided data for 65 items.