Industrial Output Grows 3.45% In Jul-May (2015-16)

ISLAMABAD,(UrduPoint / Pakistan Point News - 20th july,2016) : The country's large scale manufacturing (LSM) sector has witnessed growth of 3.45 per cent during the first 11 months of the year 2015-16 as compared to the corresponding period of last year. The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 132.80 points during July-May (2015-16) against 128.37 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS). The highest growth of 2.21 percent was witnessed in the indices monitored by Ministry of Industries followed 1.24 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) decreased by 0.003 percent. On year-to-year basis, the industrial growth however decreased by 1.49 percent during May 2016 as compared to same month of last year while on month-to-month basis, the industrial growth decreased by 3.47 percent during May 2016 when compared to growth of April 2016, the data revealed.

Meanwhile, the major sectors that showed growth during July-May (2015-16) included textile (0.50 percent), food, beverages and tobacco (0.80 percent), pharmaceuticals (6.41 per cent), chemicals (8.69 percent), non metallic mineral products (10.67 per cent), automobiles (18.26 per cent), fertilizers (14.67 percent), leather products (8.72 per cent) and rubber products (6.9 percent). On the other hand, the LSM industries that witnessed negative growth, included coke and petroleum products (2.11 per cent), iron and steel products (9.85 percent), electronics (3.27 per cent), paper and board (0.62 percent), engineering products (14.27 per cent) and wood products (62.79 percent). The provisional QIM is being computed on the basis of the latest production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS). OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.