Pakistan’s Large Scale Manufacturing Industries’ (LSMI) output during the first seven months of the current financial year witnessed a 3.37% reduction.
According to the Pakistan Bureau of Statistics (PBS) the LSMI output during the period from July-January, 2019-20 decreased by 3.37% in Jul-January 2019 as compared to Jul-Jan 2018.
Meanwhile, the data revealed that LSMI’s output on a year on year basis also decreased by 5.96% during the month of January 2020.
However, on a month-on-month (MoM) basis, LSMI witnessed an increase of 7.09 percent in January 2020 as compared to December 2019.
During the seven months, growth of 11 items related to OCAC industries witnessed a decline of 10.59% from 112.72 points to 100.78 points, the Ministry of Industries’ related 36 items registered a negative growth of 3.12%, from 132.54 points to 128.41 points, and 65 items related to Provincial Bureau of Statistics (BOS) showed a negative growth of 2.36%, from 178.19 points to 173.99 points.
According to the PBS data, during July-January 2019-20, automobile industry’s growth declined by 36.07%, coke and petroleum products declined by 10.59%, iron and steel production declined by 9.25%, electronics by 8.50%, pharmaceuticals by 5.77%, engineering products by 3.62%, and chemicals 3.20%.
The sectors which saw an increase in production during the period from July-January 2019-20 included textile by 0.28%, food, beverages and tobacco by 1.93%, non-metallic mineral products 1.71%, fertilizers 4.53%, leather products 11.15%, paper, and board 6.77%, rubber products 2.05%, and wood products registered a growth of 25.07%.
On a monthly basis, the OCAC-related industries registered an increase of 0.28% from 94.80 points in December 2019 to 100.23 points in January 2020, the Ministry of Industries related LSM recorded a growth of 5.81% from 147.97 points to 160.30 points, and provincial BOS related LSM registered a growth of 1%, from 173.35 points to 180.15 points.