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ISLAMABAD: The overall Large Scale Manufacturing (LSM) sector has shown a growth of -0.51 per cent during the first eight months (July-February) 2023-24 when compared with the same period of last fiscal l year, says the Pakistan Bureau of Statistics (PBS).

The Large Scale Manufacturing Industries (LSMI) output increased by 0.06 per cent for February 2024 when compared with February 2023 and decreased by 4.14 per cent when compared with January 2024.

According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for February 2024 is 126.01. QIM estimated for July-February, 2023-24 is 117.99.

LSMI growth

The provisional quantum indices of LSMI for February 2024 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 -0.51 per cent are, food (0.46), tobacco (-0.80), textile (-1.75) garments (0.46), paper and board (-0.08), petroleum products (0.24), chemicals (0.55), pharmaceuticals (1.21), iron and steel products (-0.05), electrical equipment (-0.26), automobiles (-1.14), and furniture (0.72).

The production in July-February 2023-24 as compared to July-February 2022-23 has increased in food, wearing apparel, coke and petroleum products, chemicals, fertilisers, pharmaceuticals, machinery and equipment and furniture while it decreased in tobacco, textile, paper and board, non-metallic mineral products, iron and steel products, electrical equipment, automobiles and other transport equipment.

The sectors showing growth during July-February 2023-24 compared to July-February 2022-23 are food (2.51 per cent), beverages (0.31 per cent), wearing apparel (3.25 per cent), leather products (5.07 per cent),wood products (12.01 per cent), coke and petroleum products (3.82 per cent), chemicals (7.33 per cent), chemicals products (-2.69 per cent), fertilisers (14.68 per cent), pharmaceuticals (26.77 per cent), rubber products (2.87 per cent), machinery and equipment (70.98 per cent), and furniture (28.01 per cent).

The sectors showing decline during July-February 2023-24 compared to July-February 2022-23 are tobacco (39.27 per cent), textile (9.73 per cent), paper and board (3.27 per cent), non-metallic mineral products (3.94 per cent),iron and steel products (1.12 per cent), fabricated metal (6.16 per cent), computer, electronics and optical products (17.39 per cent), electrical equipment (7.94 per cent), automobiles (40.74 per cent), other transport equipment (13.20 per cent), and other manufacturing (-0.16 per cent).

Copyright Business Recorder, 2024

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