Large industry grows 5.15% in 1st Quarter

[AZADPAKISTAN2009]

https://www.app.com.pk/business/large-industry-grows-5-15-in-1st-quarter/

ISLAMABAD, Nov 18 (APP): The Large Scale Manufacturing Industries (LSMI) production grew by 5.15 percent during the first quarter of the current fiscal year compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Thursday.

The highest increase of 3.3 percent during July-September (2021-22) was witnessed in the indices monitored by the Ministry of Industries, followed by 1.57 percent increase in indices monitored by the Provincial Board of Statistics and 0.28 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

On year on year basis (YoY), the industry grew by 1.19 percent during the month of September 2021 compared to the growth of September 2020, according to PBS latest data.

The major sectors that showed positive growth during July-September (2021-22) included textile (0.80%), food, beverages and tobacco (3.39%), coke and petroleum products (4.75%), pharmaceuticals (11.53%), chemicals (4.70%), mon-metallic mineral products (1.44), automobiles (42.64%), iron and steel products (13.77%), leather produts (13.94%), paper and board (13.12%), engineering products (3.17%) and wood products (4.44%).

The commodities that witnessed negative growth included fertilizers (2.66%), electronics (4.51%) and rubber products (31.50%).

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 Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS).

 

[bafxet]

LSM, took a huge dip post 2018 following the hike in discounting rate to 13.5%, though it has recovered, but it still hasn't returned back to its baseline where it was in 2018.