Large industry grows 7% in 3 quarters, 26.9% in March 2022

The Large Scale Manufacturing Industries (LSMI) production grew by 7 percent during the first three quarters of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Friday.

The LSMI Quantum Index Number (QIM) was recorded at 161.2 points during July-March (2021-22) against 150.7 points during July-March (2020-21), showing growth of 7 percent, according to latest PBS data.

The highest increase of 6 percent growth during July-March (2021-22) was witnessed in the indices monitored by the Ministry of Industries, followed by 0.9 percent increase in indices monitored by Provincial Board of Statistics (BOS) and 0.1 in the products monitored by the Oil Companies Advisory Committee (OCAC).

On year-on-year basis (YoY), the industry rose by 26.9 percent during the month of March 2022 compared to the growth of March 2021, according to PBS latest data.

The major sectors that showed positive growth during July-March (2021-22) included textile (1.6%), food, beverages and tobacco (17.4%), coke and petroleum products (1.1%), Pharmaceutical (4.6%), chemicals (7.1), automobiles (26.8%), iron and steel products (21.5%), fertilizer (3.2%), paper and board (8.5) and wood products 157.5.

The commodities that witnessed negative growth included non-metallic mineral products (2.4%), electronics (8.4%), leather products (3.3) engineering products (3.8%) and rubber products (20.6%).

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, Ministry of Industries and Production (MoIP), and PBS.