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ISLAMABAD: The overall output of the Large Scale Manufacturing (LSM) sector declined by 2.89 percent during the first four months (July-October) of 2022-23 when compared with the same period of last year, says the Pakistan Bureau of Statistics (PBS).

According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 7.75 percent for October 2022 when compared with October 2021 and 3.62 percent when compared with September 2022.

The QIM estimated for July-October, 2022-23 is 111.43 and for October 2022, 108.32.

The LSM data released by the PBS with base year 2015-16 showed that the main contributors towards the overall growth of -2.89per cent are, food (-0.72), tobacco (-0.58), textile (-1.92), garments (4.44), petroleum products (-1.38), cement (-1.23), pharmaceuticals (-1.57), and automobiles (-1.38).

The production in July-October 2022-23 as compared to July-October 2021-22 has increased in wearing apparel and furniture while it decreased in food, tobacco, textile, coke and petroleum products, pharmaceuticals, rubber products, non-metallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles and other transport equipment.

The sectors showing growth during July-October include wearing apparel (51.98per cent), leather products (6.96per cent), chemicals (0.96per cent), chemicals products (3.93per cent), fertilizers (1.06per cent), iron and steel products (1.26per cent), computer, electronics and optical products (-13.74per cent), furniture (121.54per cent) and other manufacturing(football) (60.74per cent).

The sectors showing decline during the July-October include food (5.75per cent), beverages (1.96per cent), tobacco (22.90per cent), textile (8.82per cent), wood products (52.95 per cent), paper and board (3.12per cent), coke and petroleum products (17.86per cent), pharmaceuticals (26.46per cent), rubber products (9per cent), non-metallic mineral products (12.15 per cent), electrical equipment (1.20per cent), machinery and equipment (37.25per cent), automobiles (31.27per cent), and other transport equipment (42.38per cent).

The petroleum products production witnessed a decline of 17.86 per cent during July-October 2022-23 as its indices went down to 85.81 from 104.46 during July-October 2021-22. On month-on-month, petroleum products registered a 15.04 per cent decline in October 2022.

High-speed diesel witnessed 22.06 per cent negative growth as its output remained 1.526 billion litres in July-October 2022-23 compared to 1.958 billion liters in July-October 2021-22.

Furnace oil witnessed 16.50 negative growth in output and remained 767.062 million litres in July-October 2022-23 compared to 906.613 million litres in July-October 2021-22. Jet fuel oil witnessed a growth of 27.19 per cent and remained 295.822 million litres in July-October 2022-23 compared to 232.213 million litres in July-October 2021-22.

Kerosene oil witnessed 31.75per cent negative growth in July-October2022-23 and remained 33.383 million litres compared to 48.915 million litres in July-October2021-22. Motor spirits registered negative growth of 11.66 per cent in July-October2022-23 and remained 1.038 billion litres compared to 1.175 billion litres in July-October2021-22.

Copyright Business Recorder, 2022

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