Oct LSMI output down 4.08pc YoY

ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output decreased by 4.08 percent for October 2023 when compared with October 2022 and two percent when compared with September 2023, says Pakistan Bureau of Statistics (PBS).

The LSMI output decreased by 0.44 per cent during the first four months (July-October) of the current fiscal year, i.e. 2023-24 when compared with the same period of last year.

According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for October 2023 is 111.06. QIM estimated for July-October, 2023-24 is 112.33.

Q1 LSMI output up 0.68pc YoY

The provisional quantum indices of LSMI for October 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 the overall growth of -0.44 per cent are, food (0.61), tobacco (-0.75),textile (-3.12) garments (3.98), paper and board (-0.10), petroleum products (0.49), chemicals(0.22), pharmaceuticals (1.66), cement (0.42), iron and steel products (-0.10), electrical equipment (-0.50),automobiles (-1.51), and furniture (-1.84).

The production in July-October 2023-24 as compared to July-October 2022-23 has increased in food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilisers, 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-October 2023-24 compared to July-October 2022-23 are; food (5.11 per cent), beverages (0.25 per cent), wearing apparel (26.52 per cent), leather products (2.36 per cent), coke and petroleum products (7.55 per cent), chemicals (2.75 per cent), chemicals products (-5.92 per cent), fertilisers (8.91 per cent), pharmaceuticals (37.37 per cent), non-metallic mineral products (4.14 per cent), fabricated metal (1.10 per cent), machinery and equipment (48.21 per cent), and other manufacturing (football) (12.46 per cent).

The sectors showing a decline during July-October 2023-24 compared to July-October 2022-23 are; tobacco (38.01 per cent), textile (15.47 per cent), wood products (2.31 per cent), paper and board (3.96 per cent), iron and steel products (2.04 per cent), computer, electronics and optical products (25.11 per cent), electrical equipment (13.29 per cent), automobiles (48.94 per cent), other transport equipment (12.55 per cent), and furniture (60.27 per cent).

The petroleum products production witnessed an increase of 7.55 per cent during July-October 2023-24 as its indices went up to 92.29 from 85.81 during July-October 2022-23. The petroleum products production witnessed a decline of 8.19 per cent in October.

High-speed diesel witnessed 14.80 per cent growth as its output remained 1.752 billion litres in July-October 2023-24 compared to 1.526 billion liters in July-October 2022-23.

Furnace oil witnessed 16.34 growth in output and remained 880.770 million litres in July-October 2023-24 compared to 757.062 million litres in July-October 2022-23. Jet fuel oil witnessed a negative growth of 13.02 per cent and remained 257.307 million litres in July-October 2023-24 compared to 295.822 million litres in July-October 2022-23.

Kerosene oil witnessed 0.26 per cent growth in July-October 2023-24 and remained 33.469 million litres compared to 33.383 million litres.

According to the PBS data, cement production witnessed 7.10 per cent growth in July-October 2023-24 and remained 14.071 million tons compared to 13.138 million tons in July-October 2022-23.

Copyright Business Recorder, 2023