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Large Scale Manufacturing Grew By 7.26% in First 2 Months of FY 2021-22

The output of the Large Scale Manufacturing Industries (LSMI) marked an increase of  7.26 percent in the first two months (July-August) of the current fiscal compared to the same period of last fiscal year, i.e., 2020-21, as almost all of the major manufacturing sectors reported growth, according to the data released by Pakistan Bureau of Statistics (PBS) on Friday.

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According to provisional Quantum Index numbers of LSMI, the LSMI output increased by 12.74 percent in August 2021 compared to August 2020 and 2.09 percent compared to July 2021.

Collected from the Provincial Bureau of Statistics (BOS), the PBS data on LSMI revealed that the Oil Companies Advisory Council (OCAC) and the Ministry of Industries showed that OCAC recorded month-on-month (MoM) growth of 3.18 percent in August 2021 against the previous month, while 8.83 percent growth was recorded year-on-year (YoY) in August 2021 compared to August 2020.

The sectors related to the Ministry of Industries witnessed a growth of 4.06 percent in August 2021 against July 2021 on an MoM basis, while on a YoY basis, it registered a growth of 12.61 percent in August 2021 compared to the same month of 2020.

According to the PBS data, the LSM related data to the BOS on an MoM basis witnessed a decline of 2.13 percent in August 2021 against the previous month, and on a YoY basis, BOS witnessed a growth of 13.82 percent in August 2021 against August 2020.

The production in July-August 2021-22 compared to July-August 2020-21 increased in textile, food, beverages and tobacco, pharmaceuticals, coke and petroleum products, chemicals, non-metallic mineral products, automobiles, iron and steel products, paper and board, leather products, engineering products, and wood products while it decreased in fertilizers, electronics, and rubber products.

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Textile, the top contributing sector to the overall big industry output, increased by 1.43 percent, food, beverages, and tobacco 6.74 percent, coke and petroleum products 2.35 percent, pharmaceuticals 18.67 percent, chemicals 6.36 percent, automobiles 55.33 percent, iron and steel products 14.34 percent, leather products 20.21 percent, engineering products 6 percent, non-metallic mineral products 3.72 percent, paper and board 10.37 percent, and wood products 15.81 percent during July-August 2021-22 compared to the same period of 2020-21.

The sectors showing decline during July-August 2021-22 compared to July-August 2020-21 included fertilizers 0.87 percent, rubber products 30.81 percent, and electronics 1.23 percent.

The petroleum products YoY witnessed a growth of 2.35 percent as its output increased from 2.304 billion liters in July-August 2020-21 to 2.358 billion liters in July-August 2021-22.

Moreover, high-speed diesel witnessed 5.29 percent negative growth in July-August 2021-22 and remained 933.508 million liters compared to 945.333 million liters during the same period of the last year. Furnace oil witnessed 7.84 percent negative growth in July-August 2021-22 and remained 407.134 million liters compared to 441.767 million liters during the same period last year. Motor spirit witnessed the growth of 7.48 percent in July-August 2021-22 and remained 586.473 million liters compared to 545.665 million liters during the same period last year.

The LPG witnessed 7.26 percent growth in July-August 2021-22 and remained 148.892 million liters compared to 138.818 million liters during the same period of last year. Jet fuel oil witnessed 14.40 percent growth in July-August 2021-22 and remained 95.929 million liters compared to 83.856 million liters during the same period of last year. Kerosene oil witnessed a 1.06 percent decline in July-August 2021-22 and remained 24.376 million liters compared to 24.636 million liters during the same period of last year.

It is to note that the data shows that sugar production remained zero in July-August  2021-22 and was also zero in July-August  2020-21.

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As for cement, it witnessed 4 percent growth in July-August  2021-22 and remained 7.454 million tons compared to 7.167 million tons during the same period last year.

Tractors witnessed 38.67 percent growth in July-August 2021-22 and remained 9263 in number compared to 6680 during the same period last year. Motorcycles witnessed 1.6 percent growth in July-August 2021-22 and remained 373,334 in number compared to 367,382 during the same period in the FY 2020-21.

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