Large scale manufacturing industries production grew by 18.42pc

By: News Desk      Published: 12:45 AM, 14 Aug, 2021
Large scale manufacturing industries production grew by 18.42pc

The Large Scale Manufacturing (LSM) industries production grew by 18.42 percent on a year-on-year basis during the month of June 2021 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) said on Friday.

LSMI Quantum Index Number (QIM) was recorded at 145.20 points during June 2021 against 122.62 points during June 2020, showing growth of 18.42 percent, according to PBS data.

During July-June (2020-21), the overall LSM production increased by 14.85 percent as compared to the corresponding period of last fiscal year.

The highest increase of 18.05 percent was witnessed in the indices monitored by the Oil Companies advisory Committee (OCAC), followed by 17.

Thirteen percent increase in indices monitored by the Ministry of Industries and 9.15 percent increase in the products monitored by the Provincial Board of Statistics.

The major sectors that showed positive growth during July-June (2020-21) included textile (15.31pc), food, beverages and tobacco (11.01pc), coke and petroleum products (18.05pc), pharmaceuticals (12.03pc), chemicals (19.19pc ), non-metallic mineral products (26.66pc), automobiles (51.06pc iron and steel products (15.58pc), fertilisers (7.23pc and paper and board (3.35pc) .

On the other hand, the LSM industries that witnessed negative growth in July-June (2020-21) included electronics (4.43pc), leather products (26.45pc), engineering products (15.37pc) rubber products (14.99pc), and wood products (39.35pc).