The overall output of Large Scale Manufacturing Industries (LSMI) outputincreased by 11.40 percent for December 2020 compared to December 2019 and13.51 percent if compared to November 2020.
According to provisional Quantum Index numbers of Large Scale ManufacturingIndustries (QIM), LSMI output increased by 8.16 percent in the first half(July-December) of 2020-21 compared to July-December 2019-20, shows thedata released by the Pakistan Bureau of Statistics (PBS) on Friday.
The LSMI Quantum Index Number (QIM) was recorded at 143.30 points duringJuly-December 2020-21 against 132.49 points during the same period of thepreceding year.
Federal Minister for Planning, Development and Special Initiatives, AsadUmar in a Twitter statement said that the industrial sector is now showingsustained strong growth.
Federal Minister for Industries and Production Hammad Azher on Friday saidthat the V-shaped economic recovery in Pakistan is led by industries.
The LSM data released by the PBS after collecting it from the ProvincialBureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) andthe Ministry of Industries showed that the OCAC recorded month-on-monthgrowth of 11.52 percent in December 2020 against the previous month, and23.91 percent growth was recorded year-on-year in December 2020 againstDecember 2019.
The data showed that the Ministry of Industry-related sectors witnessed anincrease of 20.04 percent in December 2020 against November 2020 on a MoMbasis, while Year-on-Year basis, it registered a growth of 13.62 percent inDecember 2020 as compared with the same month of 2019.
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The PBS data said that LSM-related data to the BOS month-on-month witnessednegative 2.2 percent growth in December 2020 against the previous month,and on a YoY basis, BOS witnessed the growth of 2.89 percent in December2020 against December 2019.
The production in July-December 2020-21 as compared to July-December2019-20 has increased in textile, food, beverages and tobacco, coke andpetroleum products, pharmaceuticals, chemicals, non-metallic mineralproducts, automobiles, fertilizers, paper and board and rubber products,while it decreased in iron and steel products, electronics, leatherproducts, engineering products and wood products.
Textile, the top contributing sector to the overall big industry output,increased by 2.61 percent, food, beverages and tobacco 20.22 percent, cokeand petroleum products 5.01 percent, pharmaceuticals 13.11 percent,chemicals 10.68 percent, automobiles 11.23 percent, non-metallic mineralproducts 20.07 percent, paper and board 10.42 percent, fertilizers 7.40percent, and rubber products 2.02 percent during July-December 2020-21compared to the same period last year.
The sectors showing decline during July-December 2020-21 compared toJuly-December 2019-20 included iron and steel products output declined by1.16 percent, electronics 20.87 percent, engineering products 31.36,leather products 42.65 percent, and wood products 60.13 percent.
