ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 4.11 percent during the first two months of current fiscal year as compared to the corresponding period last year.
The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 118.97 points during July-August (2015-16) against 114.28 points during same period of last year, according to data of Pakistan Bureau of Statistics (PBS).
The highest growth of 2.11 percent was witnessed in the indices monitored by Ministry of Industries followed by Provincial Bureau of Statistics (BOS) with 1.88 percent and the Oil Companies Advisory Committee (OCAC) with 0.13 percent.
On year-to-year basis, the industrial growth increased by 4.82 percent during August 2015 as compared to same month of last year while on month-to-month basis, the industrial growth increased by 4.11 percent in August 2015 when compared to growth of July 2015, the data revealed.
Meanwhile, the major sectors that showed growth during July-August (2015-16) included textile (0.79 percent), food, beverages and tobacco (4.97), coke and petroleum products (2.06 percent), pharmaceutical (6.92 percent) Chemicals (12.71 percent), non metallic mineral products (7.68 percent), automobiles (44.46 percent), fertilizers (15.13 percent), electronics (1.03 percent), leather products (19.05 percent) and rubber products (3.31 percent).
On the other hand, the LSM industries that witnessed negative growth, included iron and steel products (0.34 percent), paper and board (46.32 percent), engineering products (23.05 percent) and wood products (23.83 percent).
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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