LSMI output declines by 0.44% in first four months of FY 2022-23

Large Scale Manufacturing Industries (LSMI) in the country witnessed a negative growth of 0.44 percent during the first four months of the current fiscal year as compared to the corresponding period of year 2021-22, the Pakistan Bureau of Statistics (PBS) reported.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for October 2023 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies.

On a year-on-year basis, PBS posted a decrease of 4.08% in the LSMI sector compared to the industrial output of October 2022, according to PBS data.

The main contributors towards overall negative growth of 0.44% are Food (0.61), Tobacco (-0.71), Textile (-3.12) Garments (3.98), Petroleum Products (0.49), Chemicals (0.22), Pharmaceuticals (1.66), Cement (0.42), Iron & Steel Products (-0.10), Electrical Equipment (-0.50) and Automobiles (-1.51) and Furniture (-1.84).

The production in July-October 2023-24 as compared to July-October 2022-23 has increased in Food, Beverages, Wearing apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Non-Metallic Mineral Products, Machinery and Equipment, and Other Manufacturing (Football) sectors, while it decreased in Tobacco, Textile, Iron & Steel Products, Electrical Equipment, Automobiles, other transport equipment and furniture areas.