Large scale manufacturing shows 11.40 percent growth

Pakistan Bureau of Statistics (PBS) has released data which clearly shows that the large scale manufacturing industry output increased 11.40 percent for the month of December 2020 as compared to the same month last year. The LSMI Quantum Index Number (QIM) was recorded at 143.30 points during July-December 2020-21 against 132.49 points during the same period last year.

The production in July-December 2020-21 as compared to July-December 2019-20 has increased in textile, food, beverages and tobacco, coke and petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, automobiles, fertilizers, paper and board and rubber products, while it decreased in iron and steel products, electronics, leather products, engineering products and wood products.

Minister for Planning, Development and Special Initiatives Asad Umar has said that the country’s large scale industry is showing strong growth.

He said in a tweet”Another double digit growth month for large scale manufacturing in December. 11.4% growth vs December 2019. Cumulative July to December growth above 8% now. Industrial sector now showing sustained strong growth.”

Petroleum products ,Kerosene oil,High speed diesel, Furnace oil and Jet fuel oil all showed considerable increase in production. Moreover Cement, Tractors, Motorcycle and auto industry witnessed a remarkable increase in production during the same period as compared to last year