The output of Large Scale Manufacturing Industries (LSMI) increased by 26.6 percent year-on-year (YoY) in March 2022 with the base year 2015-16, the highest YoY increase after May 2021.
The overall output of Large Scale Manufacturing Industries (LSMI) increased by 10.4 percent for July-March 2021-22 compared to July-March 2020-21 with the base year 2015-16, says the Pakistan Bureau of Statistics (PBS).
However, the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) with the base year 2005-06, the overall output of LSMI increased by 7 percent for July-March 2021-22 compared to July-March 2020-21.
The LSMI output increased by 26.9 percent for March 2022 compared to March 2021 and by 8.5 percent if compared to February 2022 with the base year 2005-06.
The LSM data released by the PBS with the base year 2015-16 after collecting it from the Provincial Bureau of Statistics (BoS), the Oil Companies Advisory Council (OCAC), and the Ministry of Industries, showed that the OCAC recorded month-on-month growth of 12.7 percent in March 2022 against the previous month and 8.1 percent growth was recorded year-on-year in March 2022 against March 2021.
The data showed that the Ministry of Industries-related sectors witnessed 9 percent growth in March 2022 against February 2022 on a month-on-month (MoM) basis, while on a year-on-year basis, it registered 34.4 percent growth in March 2022 as compared with the same month of 2021.
The PBS data said that the LSM-related data to the BoS month-on-month witnessed a growth of 6.6 percent in March 2022 against the previous month and on a YoY basis, the BoS witnessed a growth of 21 percent in March 2022 against March 2021.
The production in July-March 2021-22 as compared to July-March 2020-21 has increased in food, beverages, tobacco, textile, wearing apparel, chemicals, iron and steel products, automobiles and furniture, wood products, paper and board, coke and petroleum products, non-metallic mineral products, machinery, and equipment while it decreased in pharmaceuticals, rubber products, fabricated metal, and electrical equipment.
Textile, the top contributing sector to the overall big industry output, increased by 3.2 percent, food 11.7 percent, beverages 0.7 percent, tobacco 16.7 percent, wearing apparel 34 percent, chemicals 7.8 percent, automobiles 54.1 percent, iron and steel products 16.5 percent, leather products 1.5 percent, wood products 157.5 percent, paper and board 8.5 percent, cock and petroleum products 2 percent, chemical products 15.2 percent, fertilizers 3.3 percent, machinery and equipment 8.9 percent, furniture 301.8 percent and other manufacturing (football) 37.8 percent during July-March 2021-22 compared to the same period of 2020-21.
The sectors showing a decline during July-March 2021-22 compared to July-March 2020-21 included pharmaceutical 0.4 percent, rubber products 20.6 percent, electrical equipment 1.1 percent, fabricated metal 7.2 percent, and other transport equipment 10.2 percent.