Pakistan’s large-scale industries’ output increases by 1.84 per cent

WEB DESK: The Pakistan Bureau of Statistics (PBS) has unveiled data indicating a notable increase in the production of the country’s large-scale manufacturing industries (LSMI).

According to the report, LSMI production surged by 1.84 per cent year-on-year in January 2024, reaching 132.43 compared to 130.03 in January 2023.

Similarly, the LSMI output exhibited a marginal uptick of 0.03 per cent month-on-month, standing at 132.43 in comparison to 132.39 recorded in December 2023.

However, despite the positive momentum witnessed in January, the cumulative performance over the past seven months of the fiscal year (7MFY24) has shown a slight decline of 0.52 per cent when contrasted with the corresponding period of the previous year.

Analysing the contributing sectors, the report highlights that food and beverages played a pivotal role in driving the overall growth, with increases of 0.38 per cent and 0.12 per cent, respectively.

Conversely, sectors such as tobacco and textiles experienced declines of -0.82 per cent and -1.90 per cent, respectively.

In a comparative analysis between the current fiscal year and the preceding one, the report underscores positive growth in sectors including food, beverages, wearing apparel, coke and petroleum products, chemicals, fertilisers, pharmaceuticals, machinery and equipment, and furniture.

However, a decrease was observed in sectors such as tobacco, textiles, paper and board, iron and steel products, electrical equipment, automobiles, and other transport equipment.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for January 2024, based on the 2015-16 base year, have been developed utilizing the latest data provided by the relevant agencies.

This report reflects the dynamic landscape of Pakistan’s industrial sector, showcasing both areas of growth and challenges as policymakers and stakeholders continue to navigate economic dynamics and foster sustainable development.

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