Large Scale Manufacturing Industries showed declined output

The statistical data released by Pakistan Bureau of Statistics (PBS) depicts a decline of Large Scale Manufacturing Industries (LSMI) output by 0.4 percent during the first two months (July-August) of the current fiscal year 2022-23 in comparison to the same period of last year. According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM), the LSMI output has increased by 0.6 per cent for August 2022 parallel to August 2021 and 3.9 per cent in comparison with July 2022. The QIM estimated for August 2022 is 114.8 and for July-August 2022-23 is 112.6. Moreover, the PBS with base year 2015-16  has shown that the main contributors towards the overall growth of -0.4 per cent are, garments (5.3), petroleum products (-1.2), cement (-2.0), fertilizers (-0.2), and iron and steel products (0.5). The production in July-August 2022-23 as compared to July-August 2021-22 has increased in wearing apparel, chemicals, iron and steel products, and furniture, while it decreased in food, beverages, tobacco, textile, coke and petroleum products, pharmaceuticals, rubber products, non-metallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles, and other transport equipment. Besides, those sectors which has shown growth during July-August include wearing apparel (60.9 per cent), leather products (11.5 per cent), wood products (4.3 per cent), paper and board (6.6 per cent), chemicals (2.8 per cent), chemicals products (14.7 per cent), fertilizers(-0.5 per cent), iron and steel products (11.7 per cent), furniture (174.1per cent), and other manufacturing (football) (52.9per cent). However, following sectors shared the piece of decline: food (8.9 per cent), beverages (0.5 per cent), tobacco (43.5 per cent), textile (3.7 per cent), coke and petroleum products (16.1 per cent), pharmaceuticals (32.3 per cent), rubber products (2.9 per cent), non-metallic mineral products (19.7 per cent), fabricated metal (15.7 per cent), computer, electronics and optical products (5.1 per cent), electrical equipment (4.2 per cent), machinery and equipment (38 per cent), automobiles (19.7 per cent), other transport equipment (30.4 per cent).