ISLAMABAD, Aug 24 (APP): The country’s large scale manufacturing (LSM) sector has witnessed growth of 3.21 percent during the fiscal year 2015-16 as compared to the corresponding period of last year.
The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 132 points during July June (2015 16) against 127.89 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 1.96 percent was witnessed in the indices monitored by Ministry of Industries followed 1.28 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) witnessed nominal decrease of 0.03 percent.
On year to year basis, the industrial growth increased by 0.01 percent during June 2016 as compared to same month of last year while on month to month basis, the industrial growth decreased by 2.62 percent during June 2016 when compared to growth of May 2016, the data revealed.
Meanwhile, the major sectors that showed growth during July June (2015 16) included textile (0.42 percent), food, beverages and tobacco (0.92 percent), pharmaceuticals (6.54 percent), chemicals (8.13 percent), non metallic mineral products (10.02 percent), automobiles (16.11 percent), fertilizers (13.81 percent), leather products (7.76 percent) and rubber products (7.16 percent).
On the other hand, the LSM industries that witnessed negative growth, included coke and petroleum products (2.59 percent), iron and steel products (9.26 percent), electronics (1.68 percent), paper and board (1.58 percent), engineering products (14.43 percent) and wood products (65.83 percent).
The provisional QIM is being computed on the basis of the production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS).
OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.