Large Scale Manufacturing Falls By 0.9% In 5 Months

Faizan Hashmi Published January 16, 2019 | 10:24 PM

The Large Scale Manufacturing Industries (LSMI) of the country has witnessed a decline of 0.9 percent during first five months of the current fiscal year as compared to the corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Jan, 2019 ) :The Large Scale Manufacturing Industries (LSMI) of the country has witnessed a decline of 0.9 percent during first five months of the current fiscal year as compared to the corresponding period of last year.

LSMI Quantum Index Number (QIM) was recorded at 134.27 points during July-November (2018-19) against 135.49 points during July-November (2017-18), showing a negative growth of 0.9 percent, according to the data released by the Pakistan Bureau of Statistics (PBS) on Wednesday.

The highest decrease of 4,52 percent was witnessed in the indices monitored by the Oil Companies Advisory Committee (OCAC), followed by 3.66 percent in the products monitored by the Provincial Board of Statistics while an increase of 0.69 percent was witnessed in the indices monitored by the Ministry of Industries.

On yearly basis, the industrial growth also decreased by 0.6 percent in November 2018 as compared to same month of last year, whereas on monthly basis, the industrial growth decreased by 4.98 percent percent in November 2018 when compared to growth during October 2018, the PBS data revealed.

Meanwhile, the major sectors that showed growth during July-November (2018-19) included chemicals (1.79%), automobiles (0.17%), fertilizers (5.87%), leather products (2 %), paper and board (8.76%), engineering products (19.93 %), and rubber products (4.2%).

On the other hand, the LSM industries that witnessed negative growth, included textile (0.12%), food, beverages, and tobacco (0.38%), coke and petroleum products (4.52%), pharmaceutical (7.62%), non metalic mineral products (0.33%), iron and steel products (6.13%), electronics (9.46%), and wood products (47.09%).

It is pertinent to mention here that 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.