LSM grows 4.6% in 8 months, 8.4% in February

107 grows 4.6% in 8 months, 8.4% in February

ISLAMABAD, (APP): Large Scale Manufacturing Industries (LSMI) production grew by 4.6 percent during the first eight months of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Friday.

The LSMI Quantum Index Number (QIM) was recorded at 156.9 points during July-February (2021-22) against 150.0 points during July-February (2020-21), showing a growth of 4.6 percent, according to the latest PBS data.

The highest increase of 3.8 percent during July-February (2021-22) was witnessed in the indices monitored by the Ministry of Industries, followed by a 0.8 percent increase in indices monitored by the Provincial Board of Statistics (BOS) however no increase was witnessed in the products monitored by the Oil Companies Advisory Committee (OCAC).

On a year-on-year basis (YoY), the industry rose by 8.4 percent during the month of February 2022 compared to the growth of February 2021, according to PBS’s latest data.

The major sectors that showed positive growth during July-February (2021-22) included textile (1.5%), food, beverages, and tobacco (6.6%), leather products (4.8%), wood products (174.0%), paper and board (8.0%), coke and petroleum products (0.3%), chemicals (7.9), automobiles (32.5%), iron and steel products (22.5%), fertilizer (1.5%).

The commodities that witnessed negative growth included nonmetallic mineral products (2.5%), electronics (8.1%), engineering products (2.5%), and rubber products (22.8%).

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, the Ministry of Industries and Production (MoIP), and PBS.

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