Karachi: Large Scale Manufacturing Industries (LSMI) output declined by 5.56 percent during first eight months (July-February) of 2022-23 when compared with same period of last year, according to latest data released by Pakistan Bureau of Statistics (PBS). Data released by PBS with base year 2015-16 showed that main contributors towards overall decline of are following sectors: food (-0.35), tobacco (-0.50), textile (-2.82) garments (3.21), petroleum products (-0.64), cement (-0.77), pharmaceuticals (-1.25) and automobiles (-1.68).

LSMI Quantum Index Number (QIM) showed that LSMI output decreased by 11.59 percent in February 2023 when compared with February 2022 and by 0.5 percent when compared with January 2023.

LSMI QIM estimate for July- February 2022-23 was 116.64, while for February 2023 it was 126.13.

LSMI provisional quantum indices for January 2023 with base year 2015-16 have been developed on basis of latest data supplied by source agencies-OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureau of Statistics.

Sectors showing growth during July-February include wearing apparel (35.53pc), leather products (3.85pc), furniture (58.45pc) and other manufacturing (football) (35.81pc).

However, production decreased in sectors including food, tobacco, textile, coke and petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.

Published in The Daily National Courier, April, 18 2023

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