Large Scale Industries witness a growth of 3.56 percent in July-October

The Pakistan bureau of statistics released the data on Thursday stating the fact that the large scale manufacturing industries experienced a rise of 3.56 percent in the first four months of the current fiscal year July-October as compared to the same period last year. This happened while the industries had to face the highly influencing impact of high input prices as well as severe shortage of natural gas during the winters. The first two months recorded a boost of 7.3 percent which was decelerated in September and October.

The LSM data showed 9.82 percent growth in October as compared to last year and a total of 14.75 percent growth was recorded on yearly basis report. This data was organized after collecting the information from the provincial statistics bureau, the oil company’s advisory council and the ministry of industries.

The PBS also shed a light on the fact that the LSM data experienced a negative growth of 4.33 percent in October ‘21 against October ’20 as a year to year basis category.

The production of the data stated earlier has increased in the sectors of paper and board, leather products, engineering products and wood products, in textile, food, beverages and tobacco, pharmaceuticals, cook and petroleum products, chemicals, automobiles, iron and steel products while decrease in non-metallic mineral products, fertilizers, electronics and rubber products was seen.

Textile industry increased by 0.91 percent, food, beverages and tobacco 5.15 percent, cook and petroleum products 7.33 percent, pharmaceuticals 6.55 percent, chemicals 3.14 percent, automobiles 37.91 percent, iron and steel products 11.62 percent, leather products 10.49 percent, engineering products 0.81 percent, paper and board 9.39 percent, and wood products showed a 6.56 percent increase in the data.

The petroleum industry experienced a rise of 7.33 percent, high-speed diesel 4.98 percent, furnace oil 0.62 percent, motor spirit 8.58 percent, jet fuel oil touched a high of 28.35 percent and the kerosene oil industry rose 5.57 percent in the july-october span of the current fiscal year.

Tractors witnessed a 14.40 percent growth in the first four months whereas the sugar industry remained zero as it was earlier. Cement showed a negative growth of 2.74 percent while motorcycles showed a negative growth of 4.64 percent as compared to the same period last year.