islamabad - Large scale manufacturing posted a growth of 4.26 per cent in the first nine months of (July-March) of the year 2012-13 from a year ago.
The growth in LSM was mainly driven by increase in production of food products, iron and steel products, petroleum products, paper and board, non-metallic mineral products, chemicals, textiles pharmaceuticals and rubber products, according to data compiled by Pakistan Bureau of Statistics released here on Thursday.
According to latest figures PBS, the Quantum Index Number (QIM) of Large Scale Manufacturing (LSM) industries stood at 117.94 points during July-March 2012-13 as compared to 113.12 points of the corresponding period of 2011-12. Meanwhile, according to the PBS data, the LSM sector recorded increase of 9.32 per cent during the month of March 2013 as against same period of last year. The Quantum Index Number of LSM industries stood at 139.33 points in March 2013 as compared to 127.45 points of March 2012. The economists said political instability, poor law and order situation in major industrial centres, transport bottlenecks and unreliability and inadequate availability of the power supply at affordable rates were additional factors, which pulled down the growth. The National Accounts Committee (NAC) has projected that government could not achieve the budgetary economic target of 4.3 per cent during the outgoing fiscal year (from July 2012 to June 2013), as the committee noted that GDP growth would be around at 3.59 per cent. Manufacturing sector also missed the growth target, as it registered growth of 3.51 per cent as compare to its target of 4.1 per cent.
The Quantum Index Numbers (QIN) of Large Scale Manufacturing Industries has been computed in the FBS on the basis of latest production data of 112 items received from various sources i.e. Oil Companies Advisory Committee (OCAC), Ministry of Industries & Production and Provincial Bureaus of Statistics. The OCAC supplied the data of 11 items, the Ministry of Industries & Production supplied the data of 36 items and Provincial Bureaus of Statistics provided data for 65 items. According to the PBS figures, OCAC group growth went up by 0.73 per cent during the first nine months of the ongoing financial year; Ministry of Industries registered a growth of 1.35 per cent and provincial BOS showed growth of 2.18 per cent in July-March period of 2012-13 against the same period of the last year.
The official data revealed that following sectors registered positive growth in July-March 2012-13 period against the same period of last year: food, beverages and tobacco 7.3 per cent, iron and steel products 13.24 per cent, coke and petroleum products 13.31 per cent, paper and board 21.97 per cent, rubber products 17.61 per cent pharmaceutical 16.35 per cent, non metallic products 5.86 per cent and textile 0.92 per cent during the first nine months of the ongoing fiscal year 2012-13 against same period of previous year.
According to the PBS data, following sectors registered negative growth in July-March 2012-13 period against the same period of last year: fertilizers 5.03 per cent, electricians, 6.43 per cent, leather products, 2.33 per cent, wood products, 18.98 per cent, engineering products 15.6 per cent, automobiles 11.84 per cent and chemicals 1.08 during the first nine months of the ongoing fiscal year 2012-13 against same period of previous year.