LSM grows by 6.7% in 10 months

ISLAMABAD, Jun 16 (APP):The Large Scale Manufacturing Industries (LSMI) production for the old base-year 2005-06, grew by 6.7% during the first 10 months of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Thursday.

The LSMI Quantum Index Number (QIM) was recorded at 160.1 points during July-April (2021-22) against 150.0 points during July-April (2020-21), showing growth of 6.7%, according to latest PBS data.

On year-on-year basis, the LSM grew by 5.3% in April against same month of last year.

On Month-on-Month basis, the LSM sector witnessed a sharp decline of 22.8% in April when compared with the March 2022.

As per new base-year 2015-16, the LSM witnessed a growth of 10.7% in Jul-Apr (2021-22) compared to same period of last year, while on year-on-year basis it grew by 15.4% in April, 2022 against same month of the previous year.

LSM grows by 6.7% in 10 months
LSM index as per new base-year 2015-16

However, on month-on-month basis, the LSM posted a negative growth of13.3% in April when compared to the month of March 2022.

The sectors showing growth during Jul-Apr (2021-22) included textile (1.81%), food, beverages & tobacco (16.87%), coke & petroleum products (0.33%), pharmaceuticals (8.68%), chemicals (7.51%), automobiles (22.94%), iron & steel products (21.14%), fertilizer (3.25%), leather products (3.36%), paper and board (8.23%), and wood products (134.88%).

The commodities that witnessed negative growth during the period under review included non-metallic mineral products (4.12%), electronics (7.84%), engineering products (4.86%) and rubber products (18.90%).

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, Ministry of Industries and Production (MoIP), and PBS.