Inside Financial Markets
LSMI output grows 7.65% in July, 4.81% in Q1 - Inside Financial Markets

LSMI output grows 7.65% in July, 4.81% in Q1

– Associated Press of Pakistan

The Large Scale Manufacturing Industries (LSMI) production grew by 7.65 percent on year-on-year basis during the month of September 2020 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

LSMI Quantum Index Number (QIM) was recorded at 138.03 points during September 2020 against 128.22 points during September 2019, showing positive growth of 7.65 percent, according to the latest PBS data.

During the first quarter (Q1) of the current fiscal year, the overall production increased by 4.81 percent compared to the corresponding period of last fiscal year.

The industrial production during July-September (2020-21) was recorded at 133.02 points against the output of 126.92 points during July-September (2019-20).

The highest increase of 2.98 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.66 percent increase in indices monitored by the Provincial Board of Statistics and 0.17 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC)

Meanwhile, on month-on-month basis, the industrial growth witnessed increase of 10.09 percent in September 2020 when compared with the indices of July 2020, the PBS data revealed.

Meanwhile, the major sectors that showed positive growth during September 2020 included textile (2.08%) food, beverages and tobacco (12.99%), coke and petroleum products (2.75%), pharmaceuticals (13.41 %), chemicals (8.02%), non-metallic mineral products (22.17%), fertilizers (2.03%), paper and board (10.35%) and rubber products (8.24%).

On the other hand, the LSM industries that witnessed negative growth, included automobile (5.74%), iron and steel products (8.06%), electronics (20.75%), leather products (44.70%), engineering products (37.15%) and wood products (69.72%).

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 Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS).

Syed Zaki Hussain

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