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ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output increased by 0.68 percent during the first quarter (July-September) of the current fiscal year, ie, 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).

The LSMI output increased by 1.01 percent for September 2023 when compared with September 2022 and decreased by 3.56per cent when compared with August 2023.

The LSMI output declined by 10.26 per cent during the fiscal year 2022-23 compared to 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 quantum index number (QIM) estimated for September 2023 is 112.85. QIM estimated for July-September, 2023-24 is 112.59.

The provisional quantum indices of LSMI for September 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies.

The main contributors towards overall growth of 0.68per cent are, food (0.61), tobacco (-0.71), textile (-4.26) garments (5.47), petroleum products (0.86), chemicals (0.16), pharmaceuticals (1.81), cement (0.84), iron and steel products (-0.11), electrical equipment (-0.47) and automobiles (-1.45), paper & board (-0.18) and furniture (-2.09).

The production in July-September 2023-24 as compared to July-September 2022-23 has increased in food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, non-metallic mineral products, machinery and equipment and other manufacturing (football) while it decreased in tobacco, textile, iron and steel products, electrical equipment, automobiles, other transport equipment and furniture.

The sectors showing growth during July-September 2023-24 compared to July-September 2022-23 are; food (5.16per cent), beverages (2.85per cent), wearing apparel (39.86per cent), leather products (1.70per cent), coke and petroleum products (13.82per cent), chemicals (1.95per cent), chemicals products (-7.78per cent), fertilisers(8.95per cent), pharmaceuticals (41.28per cent), non-metallic mineral products (10.77per cent), fabricated metal (2.30per cent), machinery and equipment (48.06per cent), and other manufacturing (football) (12.20 per cent).

The sectors showing a decline during July-Sep 2023-24 compared to July-Sep 2022-23 are; tobacco (38.43per cent), textile (19.99per cent), wood products (5.95per cent), paper & board (7.21per cent), rubber products (0.11per cent), iron and steel products (2.20per cent), computer, electronics and optical products (27.68per cent), electrical equipment (12.11per cent), automobiles (45.97per cent), other transport equipment (12.50per cent), and furniture (61.82per cent).

The petroleum products production witnessed an increase of 13.82 per cent during July-September 2023-24 as its indices went up to 93.16 from 81.84 during July-September 2022-23.

High-speed diesel witnessed 25.21 per cent growth as its output remained 1.340 billion litres in July-September 2023-24 compared to 1.070 billion liters in July-September 2022-23.

Furnace oil witnessed 13.90 growth in output and remained 624.920 million litres in July-September 2023-24 compared to 548.675 million litres in July-September 2022-23. Jet fuel oil witnessed a negative growth of 17.27 per cent and remained 183.409 million litres in July-September 2023-24 compared to 221.689 million litres in July-September 2022-23.

Kerosene oil witnessed 8.68 per cent negative growth in July-September 2023-24 and remained 24.805 million litres compared to 27.162 million litres.

According to the PBS data, cement production witnessed 15.38 per cent growth in July-September 2023-24 and remained 10.528 million tons compared to 9.125 million tons in July-September 2022-23.

Copyright Business Recorder, 2023

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