ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 16.5 percent on a month-on month (MoM) basis in July 2022 compared to June 2022 and by 1.4 percent on a year-on-year (YoY) basis when compared to July 2021, says the Pakistan Bureau of Statistics (PBS).
According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM), the QIM estimated for July 2022 is 110.5 compared to 112 for July 2021 and 132.3 for June 2022.
The LSM data released by the PBS with the base year 2015-16 showed that the main contributors towards the overall growth of -1.4 percent are, garments (4.4), iron and steel products (0.6), furniture (2.2), chemical products (0.6), cigarettes (-1.7), cement (-2.8), and fertilisers (-0.7).
The production in July 2022 as compared to July 2021 has increased in wearing apparel, paper and board, iron and steel products, and furniture, while it decreased in food, textile, tobacco, fertilisers, pharmaceuticals, non-metallic mineral products, and automobiles.
The sectors showing growth during July 2022 compared to July 2021 include beverages (0.02 percent), wearing apparel (4.4per cent), leather products (0.1per cent), wood products (0), paper and board (0.5per cent), iron and steel products (0.6per cent), furniture (2.2per cent), and other manufacturing (football) (0.1per cent).
The sectors showing a decline during July 2022 compared to July 2021 include food (1.2per cent), tobacco (1.7per cent), textile (0.5per cent), coke & petroleum products (0.4per cent), chemicals (0.1per cent), chemicals products —-(+0.6per cent) and fertilizers (0.7per cent), pharmaceuticals (2.2per cent), rubber products (0per cent), non-metallic mineral products (2.4per cent), fabricated metal (0.1per cent), computer, electronics and optical products (0per cent), electrical equipment (0.1per cent), machinery and equipment (0.3per cent), automobiles (0.3per cent) and other transport equipment (0.2per cent).
The petroleum products witnessed a decline of 5.2 per cent as its output went down from 98.2 million liters during July 2021 to 93 million liters in July 2022.
High-speed diesel witnessed 7.4 per cent negative growth as its output remained 432 million liters in July 2022 compared to 466.6 million in July 2021.
Furnace oil witnessed 9.6 per cent growth in output and remained 213.3 million liters in July 2022 compared to 194.7 million liters in July 2021. Jet fuel oil witnessed a growth of 49.6 per cent and remained 70.8 million liters in July 2022 compared to 47.32 million liters in July 2021. Kerosene oil witnessed 34.9 per cent negative growth in July 2022 and remained 9.187 million liters compared to 14.103 million liters in July 2021. Motor spirits registered negative growth of 0.3 per cent in July 2022 and remained 278.78 million liters compared to 279.60 million liters in July 2021.
According to the PBS data, cement production witnessed 41.9 per cent negative growth in July 2022 and remained 2.145 million tons compared to 3.7 million tons in July 2021.
Copyright Business Recorder, 2022