The Large Scale Manufacturing Industries’ (LSMI) output decreased by 6.78 percent in August 2020 compared to July 2020, as almost all of the major manufacturing sectors posted negative growth, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.
According to provisional Quantum Index numbers of Large Scale Manufacturing Industries (QIM), the LSMI output increased by 1.19 percent for August 2020 compared to August 2019 and increased by 3.66 percent for July-August 2020-21 when compared to the same period of last year. LSMI Quantum Index Number (QIM) was recorded at 130.91 points during July-Aug 2020-21 against 126.28 points during the same period of the preceding year.
The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC), and Ministry of Industries showed that OCAC recorded month on month growth of negative 8.75 percent in August 2020 against the previous month and negative 5.36 percent growth was recorded year on year in August 2020 against August 2019.
The data showed that the ministry of industry-related sectors witnessed a decline of 6.7 percent in August 2020 against July 2020 on an MoM basis, while year on year it registered a growth of 2.33 percent in August 2020 as compared with the same month of 2019.
The PBS data said that LSM related data to the BOS month on month witnessed a decline of 6.54 percent in August 2020 against the previous month and on a YoY basis BOS witnessed a slight growth of 0.15 percent in August 2020 against August 2019.
The production in July-August 2020-21 as compared to July-August 2019-20 has increased in textile, food, beverages and tobacco, coke and petroleum products, pharmaceuticals, non-metallic mineral products, and paper and paperboard while it decreased in automobiles, iron and steel products, electronics and leather products.
The sectors showing decline during July-August 2020-21 compared to July-August 2019-20 included automobiles output fell 18.81 percent, iron and steel products 10.39 percent, electronics 24.63 percent, and leather products 0.49 percent, wood products 70.45 percent, engineering products 38.66 percent, and fertilizers 0.80 percent.
Textile, the top contributing sector to the overall big industry output, increased by 1.79 percent, coke & petroleum products 5.71 percent, pharmaceuticals 10.03 percent, chemicals 9.70 percent, non-metallic mineral products 23.05 percent, paper, and board 9.83 percent and rubber products 4.69 percent during July-August 2020-21 compared to the same period last year.
Most of the 11 components, under the OCAC, showed negative growth in August 2020 compared to August 2019.
The petroleum sector witnessed a decline of 5.35 percent as its output went down from 1.16 billion liters to 1.09 billion liters on year on year basis, while on an MoM basis petroleum sector witnessed a growth of 5.7 percent as its output jumped up from 2.17 billion liters to 2.3 billion liters. However, PBS has not issued any sugar-related data.
High-speed diesel witnessed 5.9 percent growth as its output remained 452 million liters in August 2020 compared to August 2019, and 17 percent increase in July-August 2020-21 and remained 944 million liters compared to 807 million liters during the same period of last year. Furnace oil witnessed a 10 percent decline in output and remained 210 million liters in August 2020 compared to August 2019 and a 0.7 percent decline in July-August 2020-21 and remained 440.9 million liters compared to 444.4 million liters during the same period of last year.
Motor spirit witnessed an 8.56 percent increase in August 2020 and remained 262 million liters compared to 242.1 million in August 2019 and witnessed 25 percent growth in July-August 2020-21 and remained 545.87 million liters compared to 434.506 million liters during the same period of last year.
LPG witnessed 8.8 percent growth in august 2020 and remained 70 million compared to 65 million liters and 6.7 percent growth in July-August 2020-21 and remained 138 million liters compared to 129 million liters during the same period of last year.
According to provisional Quantum Index numbers of Large Scale Manufacturing Industries (QIM), the LSMI output increased by 1.19 percent for August 2020 compared to August 2019 and increased by 3.66 percent for July-August 2020-21 when compared to the same period of last year. LSMI Quantum Index Number (QIM) was recorded at 130.91 points during July-Aug 2020-21 against 126.28 points during the same period of the preceding year.
Fake report. Why you dont tell the reality that is because of PMLN’s policies. Maryam Nawaz is creating unrest in the country and that is the reason behind this decline. When Maryam Nawaz will be behind bars then everything will change.