Large Scale Manufacturing Growth

The growth in Large Scale Manufacturing Industries moderated to 3.26 percent in the first five months (July-November) of the current fiscal year. As the industries were poised to face the impact of high input prices and shortage of gas in the winter, the overall output of the LSMI increased by 3.26 percent for July-November 2021-22. According to Pakistan Bureau of Statistics (PBS) data, in the first two months of the current fiscal year the LSM sector has registered a growth of 7.3 percent. In comparison to September, October, and November, this is the slowest registered growth. According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries (QIM), the LSMI output increased by 0.30 percent for November 2021 compared to November 2020 and increased by1.91 per cent, if compared to October 2021. Overall, the Oil Companies Advisory Council (OCAC), and the Ministry of Industries showed that the OCAC recorded month-on-month negative growth of 18.62 percent in November 2021. The data showed that the Ministry of Industries-related sectors witnessed growth of 5.98 percent in November 2021 against October 2021 on MoM basis. Precisely, the production in July-November 2021-22 as compared to July-November 2020-21 has increased in textile, food, beverages and tobacco, pharmaceuticals, cook and petroleum products, chemicals, automobiles, iron and steel products, paper and board, leather products, engineering products and wood products, while it decreased in non-metallic mineral products, fertilizers, electronics and rubber products.  However, the sectors showing decline during July-November 2021-22 compared to July-November 2020-21 included non-metallic mineral products 0.66 percent, fertilizers 6.55 percent, and electronics 10.63 percent, and rubber products 31.26 percent.