The output of Large Scale Manufacturing Industries (LSMI) fell by 5.56% during the first eight months (July-February) of 2022-23 when compared to the same eight-month period of last year, according to the latest data released by the Pakistan Bureau of Statistics (PBS) on Monday.
According to data released by the PBS using 2015–16 as the base year, the following industries are the main drivers of the overall decline: food (-0.35), tobacco (–0.50), textiles (–2.82), apparel (–3.21), petroleum products (–0.64), cement (–0.77), pharmaceuticals (–1.25), and automobiles (–1.68).
According to the LSMI Quantum Index Number (QIM), LSMI output fell by 0.5% and 11.59%, respectively, in February 2023 compared to January 2023.
For the period of July through February 2022–2023, the LSMI QIM estimate was 116.64, while in February 2023, it was 126.13.
LSMI provisional quantum indices for January 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by source agencies – OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureau of Statistics.
Sectors showing growth during July-February include wearing apparel (35.53%), leather products (3.85%), furniture (58.45%) and other manufacturing (football) (35.81%). However, production decreased in sectors including food, tobacco, textile, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.
