ISLAMABAD-Large Scale Manufacturing Industries (LSMI) in the country witnessed a negative growth of 0.44 percent during the first four months of the current fiscal year as compared to the corresponding period of year 2021-22, the Pakistan Bureau of Statistics (PBS) reported. The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for October 2023 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies. On a year-on-year basis, PBS posted a decrease of 4.08% in the LSMI sector compared to the industrial output of October 2022, according to PBS data. The main contributors towards overall negative growth of 0.44% are food (0.61), tobacco (-0.71), textile (-3.12) garments (3.98), petroleum products (0.49), chemicals (0.22), pharmaceuticals (1.66), cement (0.42), iron & steel products (-0.10), electrical equipment (-0.50) and automobiles (-1.51) and furniture (-1.84). The production in July-October 2023-24 as compared to July-October 2022-23 has increased in food, beverages, wearing apparel, coke & petroleum products, chemicals, fertilizers, pharmaceuticals, non-metallic mineral products, machinery and equipment, and other manufacturing (football) sectors, while it decreased in tobacco, textile, iron & steel products, electrical equipment, automobiles, other transport equipment and furniture areas.

Source: Daily Nation December 18, 2023 21:41 UTC