The output of the Large Scale Manufacturing Industrial (LSMI) sector witnessed an increase of 1.48 per cent during January, the first month of the calendar year 2023, as compared to December 2022, the Pakistan Bureau of Statistics (PBS) reported. However, according to the provisional quantum indices of LSMI for January 2023 released by the PBS, on a year-on-year (YoY) basis, the big industry production went down 7.90 per cent in January 2023 when compared with January 2022.
Overall the LSMI showed a decline of 4.40 per cent during July-January 2022-23 when compared with the same period of last year.
The main contributors towards overall negative growth of 4.40 per cent were food (0.32%), tobacco (0.55%), textile (2.71%) garments (3.81%), petroleum products (0.69%), cement (0.86), pharmaceuticals (1.22%), and automobiles (1.55%).
The production in July-January 2022-23 as compared to the same period of the corresponding year has increased in wearing apparel (44.47%), leather products (4.98%), furniture (73.80%), and other manufacturing (48.26%).
The provisional quantum indices of LSMI for January 2023 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies, including the Oil Companies Advisory Committee, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).—APP