ISLAMABAD, Jan 15: The large-scale manufacturing (LSM) posted an impressive growth of 6.50 per cent in November, from a year ago.
The growth in LSM was mainly driven by increase in production of food, iron and steel products, petroleum products, paper and board, non-metallic mineral products, chemicals, textiles pharmaceuticals and rubber products.
In the five months (July-Nov) period of the current fiscal year, the LSM expanded by 2.38 per cent this year over the last year, according to the data compiled by the Pakistan Bureau of Statistics.
Last year, the LSM sector, which accounts for 70 per cent of industrial production, recorded a negative growth because of energy crisis, ever rising input cost and lack of demand in domestic and international market.
Improved supply of gas especially to the textile industries in the past few months had increased the output.
The major contribution towards the positive growth in LSM performance in the month of November came from food, beverages and tobacco 6.09pc, iron and steel products 35.80 pc, petroleum products 21.36pc, paper and board 49.64pc, chemicals 0.46pc, rubber products 19.64pc, pharmaceuticals 9.91pc, non-metallic mineral products 13.60pc and textile 1.09pc.
Still some sectors like fertilisers witnessed a negative growth of 3.88pc, electronics 35.31pc, leather products 20.02pc, wood products 22.72pc, engineering products 1.37pc and automobiles 8.60pc during the month under review over the last year.
Relying on the growth in the past few months, the government had expected that the economy would grow by about 4pc as against the 3.7pc growth in economy last year.
Industry specific data showed that many sub-sectors didn’t perform well in the July-Nov period mostly electronic goods, which led to jump in imports of consumer and electronic items.
In the electronic and electrical goods, production of deep-freezers was down by 33.02pc, air-conditioner 4.84pc, electric bulbs 14.86pc, electric tubes 23.50pc, electric fans 18.69pc, electric motors 27.88pc, switch gears 4.21pc, storage batteries 0.32pc and TV sets 64.19pc during the period under review.
However, refrigerators recorded a growth of 6.17pc, electric meters 13.68pc, electric transformers 21.34pc, generating sets 71.08pc and bicycles 15.26 pc during the first five months of 2012-13 over the last fiscal year.
The growth was witnessed in case of food, beverages and tobacco. The sector has adjusted weightage of 12.37pc in LSM basket.
However, vegetable ghee production dipped by 0.89pc during the period under review.
The production of oil up by 11.57pc, tea blended 25.58pc and wheat 0.47pc.
Another important sector, which provides jobs in large numbers across the country, is the automobile sector. Trucks production fell by 15.47pc, jeeps and cars 23.85pc, LCVs 19.20pc and motorcycle 0.48pc.
However, production of tractors and buses up 83.50pc and 39.67pc.
