ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 4.35 percent during the first eight months of current fiscal year as compared to the corresponding period of last year.
The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 131.16 points during July-February (2015-16) against 125.69 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 2.38 percent was witnessed in the indices monitored by Ministry of Industries followed 1.59 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) increased by 0.38 percent.
On year-to-year basis, the industrial growth increased by 2.83 percent during February 2016 as compared to same month of last year while on month-to-month basis, the industrial growth decreased by 5.08 percent during February 2016 when compared to growth of January 2016, the data revealed.
Meanwhile, the major sectors that showed growth during July-February (2015-16) included textile (0.80 percent), coke and petroleum products (1 percent),pharmaceuticals (7.04 percent), chemicals (11.26 percent), non metallic mineral products (8.61 percent), automobiles (27.67 percent), fertilizers (16.05 percent), leather products (119.51 percent), and rubber products (11.64 percent).
On the other hand, the LSM industries that witnessed negative growth, included iron and steel products (6.83 percent), electronics (8.40 percent), paper and board (5.23 percent), engineering products (16.87 percent) and wood products (54.28 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.
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