ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output registered negative 3.62 percent growth in July against negative 14.96 percent in June 2023 and 13.98 percent in May, data released by the Pakistan Bureau of Statistics (PBS) on Monday revealed.
LSMI output declined by 10.26 percent during fiscal year 2022-23 when compared with the same period of 2021-22, according to PBS data.
According to the provisional Quantum Index Numbers of the Large Scale Manufacturing Industries, the LSMI output decreased by 1.09 percent for July 2023 when compared with July 2022. The LSMI Quantum Index Number (QIM) was estimated for July, 2023 is 108.01.
The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for July, 2023 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies i.e. OCAC, Ministry of Industries & Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).
The main contributors towards overall growth of -1.09 percent are, food (1.14), tobacco (0.30), textile (-4.69) garments (4.31), petroleum products (-0.16), chemicals (0.49), pharmaceuticals (2.28), cement (1.52), iron & steel products (-0.14), electrical equipment (-0.97) and automobiles (-2.59), paper & board (-0.38) and furniture (-1.85).
The sectors showing decline during July 2023 compared to July 2022 include; beverages (0.42 percent), textile (4.69 percent), leather products (0.02 percent), paper & board (0.38 percent), coke & petroleum products (0.16 percent), iron & steel products (0.14 percent), fabricated metal (0.02 percent), computer, electrical equipment (0.97 percent), automobiles (2.59 percent), other transport equipment (0.09 percent) and furniture (1.85 percent).
The production in July 2023 as compared to July 2022 has increased in food, tobacco, wearing apparel, chemicals, pharmaceuticals, non-metallic mineral products and other manufacturing (football) while it decreased in beverages, textile, coke & petroleum products, iron & steel products, electrical equipment, automobiles, other transport equipment and furniture.
The sectors showing growth during July 2023 compared to July 2022 include; food (1.14 percent), tobacco (0.30 percent), wearing apparel (4.31 percent), chemicals (0.49 percent), chemicals products (-0.65 percent), fertilizers (1.14 percent), pharmaceuticals (2.28 percent), rubber products (0.02 percent), non metallic mineral products (1.67 percent), machinery and equipment (0.01 percent) and other manufacturing (football) 0.05 percent.
The petroleum products production witnessed a decline of 2.26 percent during July 2023 as its indices went down to 93.06 from 90.96 during July 2022. High-speed diesel witnessed 0.57 percent negative growth as its output remained 429.460 million litres in July 2023 compared to 432.139 million liters in July 2022.
Furnace oil witnessed 16.58 negative growth in output and remained 209.625 million litres in July 2023 compared to 214.09 million litres in July 2022. Jet fuel oil witnessed negative growth of 16.58 percent and remained 59.053 million litres in July 2023 compared to 70.792 million litres in July 2022.
Kerosene oil witnessed 11.78 per cent negative growth in July 2023 and remained 8.105 million litres compared to 9.187 million litres in July 2022. Motor spirits witnessed 1.96 percent negative growth as its output remained at 273.321 million in July 2023 compared to 278.789 million in July 2022.
According to the PBS data, cement production witnessed 38.60 per cent growth in July 2023 and remained 2.196 million tons compared to 1.853 million tons in July 2022.
Copyright Business Recorder, 2023
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