ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 6.05 percent during the first seven months of current fiscal year as compared to the corresponding period of last year.
The provisional Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 118.49 points during July-January 2013-14) against 111.73 points during July-January (2012-13), according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 4.08 percent was witnessed in the indices of Ministry of Industries followed by Provincial Bureaus of Statistics (PBoS) indices, which increased by 1.54 percent and the indices of Oil Companies Advisory Committee (OCAC) with 0.44 percent growth.
On year-to-year basis, the industrial growth increased by 2.58 percent during January 2014 as compared to January 2013 while on month-to-month basis,the industrial growth increased by 0.38 percent during January 2014 when compared to growth December 2013, the data revealed.
Meanwhile, the major sectors that showed growth during July-January (2013- 14) included textile (1.59 percent), food beverages and tobacco (15.78 percent), coke and petroleum products (5.38 percent) paper and board (13.34 percent) and pharmaceuticals (0.12 percent).
Similarly, the production of fertilizers increased by 25.43 percent, electronics by 9.47 percent, iron and steel products by 4.12 percent, leather products by 5.18 percent, chemicals by 6.33 percent, non-metallic mineral products by 0.86 percent and rubber products by 8.73 percent.
On the other hand, the LSM industries that witnessed negative growth, included wood products, production of which decreased by 9.12 percent during the period under review while the output of engineering products decreased by 24.05 percent.
Similarly, the production of automobiles decreased by 2.23 percent during the period, according to the data of PBS.
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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