Islamabad July 15 2023:The output of the Large Scale Manufacturing Industrial (LSMI) sector witnessed increase of 5.88 per cent during the month of May, as gas supply improves to industries along with a slight relief in energy prices, the Pakistan Bureau of Statistics (PBS) reported.
Government of Pakistan Slashed HSD prices for the month of May by 6.95 percent to pass on impact of reducing international prices.
However, on year on year basis big industries production is still down 14.37 perecent as country’s central bank increases the policy rate all time high and imposes import restricitions to contain forign exchange reserves of the country.
The main contributors towards overall growth of 5.88 percent are Wearing Appearl (12.86%), Food (9.50), Non-metallic (0.53 percent) and football manufacturing (36.36 percent).
Overall Large-Scale Manufacturing Sector has shown a decline of 9.87% during July-May 2022-23 when compared with the same period of last year. QIM estimated for May, 2023 is 110.60.
The main contributors towards overall growth of -9.87 percent are, Food (-1.30), Tobacco (-0.63), Textile (-3.66) Garments (2.58), Petroleum Products (-0.81), Chemicals (-0.54), Cement (-0.76), Pharmaceuticals (-1.59), Iron & Steel Products (-0.22), Electrical Equipment (-0.49) and Automobiles (-2.08).
The sectors showing growth during July-May 2022-23 compared to July-May 2021-22 are given below
The sectors showing Decline during July-May 2022-23 compared to July-May 2021-22 are given below: –
The production in July-May 2022-23 as compared to July-May 2021-22 has increased in Wearing apparel, Furniture and Other Manufacturing (Football) while it decreased in Food, Tobacco, Textile, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non-Metallic Mineral Products, Machinery and Equipment, Automobiles and Other Transport Equipment.
