ISLAMABAD: The growth in Large Scale Manufacturing Industries moderated to 3.26 percent in the first five months (July-November) of the current fiscal year, as the industries were poised to face the impact of high input prices and shortage of gas in the winter.
The overall output of the LSMI increased by 3.26 percent for July-November 2021-22 compared to July-November 2020-21, says the Pakistan Bureau of Statistics (PBS) data released on Friday.
In the first two months of the current fiscal year, the LSM sector had registered a growth of 7.3 percent that slowed down in September, October, and November.
According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries (QIM), the LSMI output increased by 0.30 percent for November 2021 compared to November 2020 and increased by1.91 per cent, if compared to October 2021.
The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC), and the Ministry of Industries showed that the OCAC recorded month-on-month negative growth of 18.62 percent in November 2021 against the previous month and 5.5 percent negative growth was recorded year-on-year in November 2021 against November 2020.
The data showed that the Ministry of Industries-related sectors witnessed growth of 5.98 percent in November 2021 against October 2021 on MoM basis, while year-on-year basis, it registered a 3.51 percent growth in November 2021 as compared with the same month of 2020.
The PBS data said that the LSM-related data to the BOS month-on-month witnessed a decline of 3.18 percent in November 2021 against the previous month and on YoY basis, the BOS witnessed a negative growth of 6.35 percent in November 2021 against November 2020.
The production in July-November 2021-22 as compared to July-November 2020-21 has increased in textile, food, beverages and tobacco, pharmaceuticals, cook and petroleum products, chemicals, automobiles, iron and steel products, paper and board, leather products, engineering products and wood products, while it decreased in non-metallic mineral products, fertilisers, electronics and rubber products.
Textile, the top contributing sector to the overall big industry output, increased by 0.92 percent, food, beverages and tobacco 1.46 percent, cook and petroleum products 4.72 percent, pharmaceuticals 1.46 percent, chemicals 7.44 percent, automobiles 34.49 percent, iron and steel products 25.27 percent, leather products 8.23 percent, engineering products 1.52 percent, paper and board 8.45 percent, and wood products 200 percent, during July-November 2021-22 compared to the same period of 2020-21.
The sectors showing decline during July-November 2021-22 compared to July-November 2020-21 included non-metallic mineral products 0.66 percent, fertilizers 6.55 percent, electronics 10.63 percent, and rubber products 31.26 percent.
The petroleum products on year-on-year witnessed growth of 4.72 percent as its output increased from 5.828 billion litres in July-November 2020-21 to 6.103 billion litres in July-November 2021-22.
Sugar production witnessed 27.55 percent decline during July-November 2021-22 and remained 332,128 tonnes when compared to 458,435 tonnes during the same period of last year.
Cement witnessed 0.88 percent negative growth in July-November 2021-22, and remained 20.262 million tonnes compared to 20.442 million tonnes during the same period of last year.
Copyright Business Recorder, 2022