Large scale manufacturing grows 1.02 per cent in 10 months
ISLAMABAD: Despite energy crisis and other related challenges, the country’s Large Scale Manufacturing (LSM) witnessed growth of 1.02 per cent during the first ten months of the ongoing fiscal year as compared to the growth of the corresponding period of last year.
The provisional Quantum Index Numbers (QIM) of Large Scale Manufacturing Industries was recorded at 112.71 points during July-April (2011-12) against 111.58 points during July-April (2010-11), according to data of Pakistan Bureau of Statistics (PBS).
The Provisional QIM is being computed on the basis of latest production data of 112 items received from sources including Oil Companies Advisory Committee (Ocac), Ministry of Industries & Production (MoIP) and Provincial Bureaus of Statistics PBoS).
OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.
According to the PBS data, the highest growth of 0.98 per cent was witnessed in the indices of Ministry of Industries that increased from 111.14 during last year to 112.70 during the ongoing year.
Similarly, the indices of PBoS increased from 122.89 points last year to 125.03 points this year, showing an increase of 0.42 per cent.
However, the indices of OCAC witnessed negative growth of 0.39 per cent as it declined from 83.48 points last year to 77.89 points this year, the data revealed.
However, on month-on-month basis, the overall industrial growth decreased by 11.94 per cent during April 2012 when compared to growth of 112.64 points during March 2012.
Similarly, on year-on-year basis, the industrial growth decreased by 1.87 per cent during April 2012 as compared to 112.64 points of the same month of last year.
Meanwhile, the major sectors have showed growth during July-April (2011-12) included food beverages and tobacco, production of which increased by 5.78 per cent.
Similarly, the pharmaceutical sector witnessed growth of 8.33 per cent, non-metallic mineral products 2.42 per cent, paper and board 20.85 per cent while the textile industry grew by 0.65 per cent during the period under review.
The other LSM industries that witnessed positive growth in production included, wood products, production of which increased by 2.94 per cent, automobiles by 0.38 per cent whereas the fertilizer production increased by 1.37 per cent.
On the other hand, the LSM industries that witnessed negative growth included iron and steel, production of which decreased by 27.24 per cent during the period where as the production of coke and petroleum products also declined by 7.85 per cent.
Similarly, the production of electronics decreased by 7.17 per cent, chemicals by 3.68 per cent, rubber products by 24.06 per cents while the production of engineering products decreased by 11.71 per cent.