Pakistan’s industrial output grew 8.6% in February

industrial output

The large-scale manufacturing (LSM) has risen 8.6 percent year-on-year in February, the Pakistan Bureau of Statistics (PBS) revealed the Pakistan’s industrial output on Friday.

The LSM recovered in January and showed an increase of 8.2 percent, which slightly went up in the following month. The data trends reveal that LSM will sustain the growth momentum in March also when figures are finalized.

According to the PBS data four out of 15 sub-sectors in the LSM dipped in February. Rupee depreciation and high-interest rates will increase the cost of raw materials further and economic activities are likely to slow down during the present fiscal year.

Read more: Large scale manufacturing grows 7.6% in seven months

The non-metallic mineral sector recorded a drop in the production of cement output by 3 percent in February 2022. But, the production of glass plates and sheets went up by 58.9 percent. Billets and ingots in the steel sector showed a growth of 34.7 percent.

Further industrial output data showed that cooking oil production hiked up by 8.5 percent, tea blended rose by 13.2 percent in February last year, but wheat and grain milling output dropped by 1.6 percent.

In pharmaceuticals, the output of tablets dipped 28.2 percent, injections 38.3 percent, and capsules 42.2 percent. Conversely, the output of syrups increased by 63.4 percent while ointment by 3.7 percent.

The output of a few petroleum items grew in February. The output of petrol decreased by 0.5 percent while that of high-speed diesel by 1.3 percent, and furnace oil production dipped by 8.7 percent. Meanwhile, the LPG production went up by 4 percent, lubricating oil 14.9 percent, kerosene 22 percent, and jet fuel oil 27.5 percent.

In February, the food manufacturing posted growth of 3.3 percent, tobacco 19.6 percent, beverages 1.7 percent, textile 2.9 percent, garments 20.6 percent, wood products 174 percent, paper and board 8 percent, chemicals 7.1 percent, leather products 3.1 percent, iron and steel 17.3 percent, non-metallic min 0.6 percent, and machinery and equipment 12.4 percent.

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