The overall output of Large Scale Manufacturing Industries (LSMI) increasedby 7.41 percent for July-November 2020-21, as compared to July-November2019-20, according to the data released by the Pakistan Bureau ofStatistics (PBS) on Tuesday.
According to provisional Quantum Index Numbers (QIM) of Large ScaleManufacturing Industries (LSMI), the LSMI output increased by 14.46 percentfor November 2020 compared to November 2019 and improved 1.35 percent ascompared to October 2020.
The LSMI Quantum Index Number (QIM) was recorded at 138.52 points duringJuly-November 2020-21, against 128.97 points during the same period of thepreceding year.
The LSM data has been collected by PBS from the Provincial Bureau ofStatistics (BOS), the Oil Companies Advisory Council (OCAC), and theMinistry of Industries. It showed that the OCAC recorded a month-on-monthdecline of 0.9 percent in November 2020 against the previous month.However, on a year-on-year comparison, it grew by 1.17 percent in November2020 against November 2019.——————————
The data showed that sectors related to the Ministry of Industrieswitnessed an increase of 3.06 percent in November 2020 against October 2020on a month-on-month basis, while on a year-on-year basis, they registered agrowth of 19.13 percent in November 2020 as compared to the same month of2019.
The PBS data shows that LSM-related data to the BOS month-on-monthwitnessed a 2.2 percent decline in November 2020 against the previousmonth, but on a YoY basis, grew by 6.94 percent in November 2020 againstNovember 2019.
A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities, onhis Twitter account said,
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Double-digit industrial growth is the beginning of manufacturing-ledjob-creating growth. Key ingredients of the growth are a) exchange ratestability b) monetary easing/TERF financing. Reduce import tariff on rawmaterial, encourage value-addition & focus on value-addition.
According to PBS data, sugar production remained 458,435 tonnes inJuly-November 2020-21.
The production in July-November 2020-21 as compared to July-November2019-20 has increased in textile, food, beverages, and tobacco, coke, andpetroleum products, pharmaceuticals, chemicals, automobiles, non-metallicmineral products, fertilizers, rubber, and products, and paper and board,while it decreased in iron and steel products, wood products, engineeringproducts, electronics, and leather products.
The textile sector, the top contributing sector to the overall big industryoutput, showed a growth of 2.4 percent. Food, beverages and tobacco 21.28percent, coke and petroleum products 1.50 percent, pharmaceuticals 12.95percent, chemicals 9.95 percent, automobiles 5.93 percent, non-metallicmineral products 20.60 percent, paper and board 10.22 percent, fertilizers6.59 percent, and rubber products 7.86 percent, during July-November2020-21 compared to the same period last year.
