The Large Scale Manufacturing Industries (LSMI) output has recorded an increase of 11.7 percent in the last fiscal year 2021-22 (FY22) when compared to the financial year 2020-21 (FY21), according to the latest data released by the Pakistan Bureau of Statistics (PBS).
The Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) revealed that the LSMI output grew by 11.5 percent for June 2022 on a year-on-year (YoY) basis as compared to June 2021 and 0.2 percent on a month-on-month (MoM) basis as compared with May 2022 with the base year 2015-16.
For FY22 QIM has been estimated as 127.3 and for June 2022 it is 130.9. The production in FY22 against FY21 has increased in textile, food, wearing apparel, pharmaceuticals, chemicals, iron & steel products, automobiles, and furniture whereas it showed a decreasing trend in rubber products and other transport equipment.
Moreover, the LSM data released by the PBS with the base year 2015-16 revealed the key contributors to the overall growth of 11.7 percent are garments (3.8), sugar (1.7), liquids/syrups (1.9), jeeps & cars (1.3), furniture (1.1), chemical products (0.6), woolen blankets (0.6), billets/Ingots (0.5), and cigarettes (0.4).
Textile appeared to be the main contributing sector to the overall big industry output which grew by 3.5 percent, tobacco 15.9 percent, food 8.4 percent, wearing apparel 49.4 percent, chemicals 9 percent, iron and steel products 16.3 percent, automobiles 49.4 percent, leather products 0.8 percent, wood products 115.7 percent, paper and board 10.6 percent, chemical products 19.4 percent, fertilizers 2.7 percent, machinery and equipment 15.4 percent, cock and petroleum products 0.7 percent, furniture 180.2 percent and other manufacturing (football) 43.2 percent during July-June 2021-22 as compared to the corresponding period of 2020-21.
However, the sectors showing a decrease during the period under review as compared to FY21 comprised rubber products at 15.8 percent, fabricated metal at 3.8 percent, and other transport equipment at 11.2 percent.