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ISLAMABAD: The Large Scale Manufacturing Industry (LSMI) output has declined by 8.11 percent during July-March 2022-23 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).

According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries, the LSMI output decreased by 24.99 percent for March, 2023 when compared with March, 2022 and 9.09 percent when compared with February 2023.

The LSMI Quantum Index numbers, estimated for July-March 2022-23, is 116.57, while it was estimated for March 2023 at 115.31.

The provisional quantum indices of LSMI for March 2023 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e. the OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).

Jul-Feb LSMI output declines 5.56pc YoY

The LSM data released by the PBS with base year 2015-16 showed the main contributors towards overall growth of -8.11 percent are, food (-1.62 percent), tobacco (-0.57 percent), textile (-3.16 percent) garments (2.94 percent), petroleum products (-0.68 percent), cement (-0.85 percent), pharmaceuticals (-1.30 percent), and automobiles (-1.85 percent).

The production in July-March 2022-23 as compared to July-March 2021-22 has increased in wearing apparel, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke and petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.

The sectors showing growth during July-March include wearing apparel (31.68 percent), leather products (2.47), furniture (48.26 percent) and other manufacturing (football) (34.82 percent).

The sectors showing decline during the July-March include food (8.71 percent), beverages (3.39 percent), tobacco (23.78 percent), textile (16.03 percent), wood products (66.22 percent), paper and board (5.42 percent), coke and petroleum products (10.24 percent), chemicals (6.29 percent), chemicals products (1.49 percent increased), fertilizers (9.54 percent), pharmaceuticals (23.20 percent), rubber products (8.08 percent), non-metallic mineral products (10.75 percent), iron and steel products (4.02 percent), fabricated metal (13.83 percent), computer, electronics and optical products (26.52 percent), electrical equipment (11.15 percent), machinery and equipment (46.01 percent), automobiles (42.48 percent), other transport equipment (38.91 percent).

The petroleum products production witnessed a decline of 10.24 percent during July-March 2022-23 as its indices went down to 89.61 from 99.84 during July-March 2021-22.

Copyright Business Recorder, 2023

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