LSMI output declined by 0.4 % in first quarter of FY23
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The Large-Scale Manufacturing Industries (LSMI) output has declined by 0.4 percent during the first quarter (July-September) of the current fiscal year 2022–23 compared to the same period last year, reported 24NewsHD TV channel.
According to the Pakistan Bureau of Statistics (PBS) issued on Wednesday, Provisional Quantum Index Numbers of Large-Scale Manufacturing Industries (QIM) suggested that the LSMI output increased by 0.01 percent for September 2022 compared to September 2021 and by 0.1 percent compared to August 2022.
The production in July–September 2022–23 as compared to July–September 2021–22 has increased in wearing apparel, chemicals, iron and steel products, and furniture, while it has decreased in food, tobacco, textile, coke and petroleum products, pharmaceuticals, rubber products, nonmetallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles, and other transport equipment.
The sectors showing decline during the July-September period include food (6.2 percent), tobacco (31.2 percent), textile (3.3 percent), coke and petroleum products (18.9 percent), pharmaceuticals (29 percent), rubber products (7.1 percent), non-metallic mineral products (13 percent), fabricated metal (18.7 percent), computer, electronics, and optical products (9.6 percent), electrical equipment (3.5 percent), machinery and equipment (37 percent), automobiles (32.8 percent), other transport equipment (42.4 percent), and other manufacturing (football) (59.1 percent).
Reporter: Waqas Azeem