Large Scale Manufacturing Industries Grow 2.2 Pc In Jul-Sep

Large scale manufacturing industries grow 2.2 pc in Jul-Sep

ISLAMABAD, (UrduPoint / Pakistan Point News - 24th Nov, 2016 ) : The country's large scale manufacturing industries (LSMI) sector has witnessed growth of 2.20 per cent during first quarter (July-September) of current fiscal year as compared to the corresponding period of last year.

The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 123.32 points during July-September (2016-17) against 120.66 points during same period of last year, according to data released by Pakistan Bureau of Statistics (PBS) on Thursday.

The highest growth of 1.28 percent was witnessed in the indices monitored by Provincial Bureaus of Statistics (PBOS) followed by 1.04 per cent increase in indices of Ministry of Industries while the indices of Oil Companies Advisory Committee (OCAC) witnessed nominal decrease of 0.12 per cent.

On monthly basis the industrial growth in September, however declined by 1.83 per cent as compared to that of August while on yearly basis the growth increased by 1.90 per cent compared to September 2015.

Meanwhile, the major sectors that showed growth during July-September (2016-17) included pharmaceutical (7.95 percent), non-metallic mineral products (9.24 percent), automobiles (3.79 percent), iron and steel products (12.98 percent), fertilizers (6.45 percent), electronics (12.27 per cent), paper and board (6.12 percent) and rubber products (0.27 percent).

On the other hand, the LSM industries that witnessed negative growth, included textile (0.06 percent), food, beverages and tobacco (0.89 percent), coke and petroleum products (3.42 percent), chemicals (3.60 percent), leather products (19.11 percent), engineering products (17.75 percent) and wood products (97.83 percent).

The provisional QIM is being computed on the basis of the 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 provides data of remaining 65 items.