Large Scale Manufacturing Industry Grows 0.95% In October

Mohammad Ali (@ChaudhryMAli88) Published December 19, 2018 | 02:34 PM

The Large Scale Manufacturing Industries (LSMI) of the country witnessed growth of 0.95 percent during October 2018 as compared to corresponding period of last year.

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Dec, 2018 ) :The Large Scale Manufacturing Industries (LSMI) of the country witnessed growth of 0.95 percent during October 2018 as compared to corresponding period of last year.

The country's LSMI Quantum Index Numbers (QIM) was recorded at 140.9 points during October 2018 against 139.58 points during October 2017, showing growth of 0.95 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS).

The highest growth of 2.72 percent was witnessed in products monitored by Ministry of Industries while negative growth of 0.7 percent in indices monitored by Oil Companies Advisory Committee (OCAC) was witnessed and in the indices of Provincial Bureaus of Statistics (PBOS) a decline of 1.07 percent was observed during the period under review.

The average growth during first four months of current fiscal year, however witnessed a decline of 0.65 percent against same period of last year.

Meanwhile, the major sectors that showed growth during October 2018 over October 2017 included food, beverages and tobacco (4.

62 percent), chemicals (7.24%), non-metalic mineral products (7.1 percent), automobiles (6 percent), fertilizers 31.4 percent), engineering products (39.28 percent), and rubber products (1.79 percent).

On the other hand, the LSM industries that witnessed negative growth during the month included, textile (0.01 percent), coke and petroleum products (9.39 percent), pharmaceuticals (13.36 percent), iron and steel products (10.55 percent), electronics (9.49 percent), and wood products (50.98 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 ofStatistics (PBoS). OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.