July-March 2025-26: LSM records 6.48pc growth YoY

ISLAMABAD: The Large Scale Manufacturing (LSM) sector recorded a growth of 6.48 percent during July–March 2025-26 as compared to the same period of last year, with output accelerating sharply in March 2026 as the Quantum Index of Manufacturing (QIM) rose to 123.03 points, reflecting an increase of 11.09 percent on a Year-on-Year (YoY) basis. However, the LSM output recorded a decline of 5.19 percent on a Month-on-Month (MoM) basis.

According to provisional data with base year 2015-16 released here on Tuesday by the Pakistan Bureau of Statistics (PBS), the growth is mainly driven by the impressive performance of the automobile, sugar, food, garments, petroleum products, and cement industries.

The LSMI output grew 11.09 percent year-on-year (YoY) in March 2026, while posting a decline of 5.19 percent on a MoM basis compared to February 2026.

READ MORE: February LSM output falls 8.97% month-on-month

On a cumulative basis, the sector recorded 6.18 percent growth during July–March FY26, with the QIM averaging 124.80, up from 112.42 in the same period last year. Automobile remained the driver of the QIM growth as the automobile sector registered a remarkable increase of 61.35 percent in March and a cumulative 61.66 percent during July–March FY26.

In March, the sugar sector posted a monthly growth of 384.90 percent and cumulative growth of 30.97 percent, garments 1.8 percent monthly growth and a 6.6 percent cumulative expansion, reflecting continued strength in export-oriented textile manufacturing. Petroleum products with 3.4 percent monthly and 10.92 percent cumulative growth, and cotton cloth recorded 0.12 percent monthly and 0.19 percent cumulative growth.

While on monthly basis cotton yarn posted negative growth of 1.34 percent and cumulative basis it posted 1.82 percent growth, fertilizer sector month growth decline by 7.55 percent and on cumulative basis 1.02 percent decline, cement sector growth monthly basis declined by 6.64 percent while cumulative basis witnessed an increase of 9.13 percent and iron and steel sector growth in March declined by 11.46 percent and cumulative basis also witnessed a decline of 6.33 percent.

The main contributors towards overall growth of 6.48 percent include, food with 1.79 percent growth, tobacco 0.18 percent, textile 0.13 percent, garments 1.08 percent, petroleum products 0.79 percent, chemicals with negative 0.11 percent, pharmaceuticals negative 0.31 percent, cement 0.50 percent, iron & steel products negative 0.27, electrical equipment 0.30 percent, machinery and equipment negative 0.03 percent, automobiles 1.50 percent, other transport equipment 0.24 percent, and furniture 0.26 percent.

The data revealed on monthly basis food sector posted 53.67 percent growth, cumulative basis 9.77 percent and annual basis 1.79 percent, tobacco sector on monthly basis grew by 37.30 percent, cumulative basis 11.70 percent and annual basis 0.18 percent, rubber products in March grew up by 22.64 percent, cumulative basis 14.26 percent and annual basis 0.03 percent, textile sector in March posted a growth of 3.34 percent, July-March 2026 a growth of 0.75 percent and annual basis grew up by 0.13 percent.