ISLAMABAD - Pakistan's large scale manufacturing (LSM) sector has recorded growth of 4.62 percent in the month of January 2013 against corresponding month of the previous year.
According to latest figures released by Pakistan Bureau of Statistics (PBS) on Friday, the Quantum Index Number (QIM) of Large Scale Manufacturing (LSM) industries stood at 132.65 points during January 2013 as compared to 126.79 points of the corresponding period of 2012. Meanwhile, the LSM sector recorded increase of 2.73 per cent during the first seven months (July-January) of the ongoing financial year 2012-13 as against same period of last year. The Quantum Index Number of LSM industries stood at 111.69 points in July-January period of 2012-13 as compared to 108.71 points of July-January 2011-12.
Poor law and order situation, political uncertainty, acute energy crisis and less domestic demand have badly hit Pakistan's large scale manufacturing (LSM) growth during July-January 2012-13, as it grew by only 2.73 percent over the same period last year. These issues have kept the manufacturing sector under stress for the last several years and are also responsible for high cost of doing business. This scenario is compelling investors and businessmen to freeze their businesses expansion or wrap them up.
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 0.65 per cent during the first seven months of the ongoing financial year; Ministry of Industries registered a growth of 0.57 per cent and provincial BOS showed growth of 1.51 per cent in July-January period of 2012-13 against the same period of the last year.
The official data revealed that following sectors registered positive growth in July-January 2012-13 period against the same period of last year: food, beverages and tobacco 4.11 per cent, iron and steel products 14.03 per cent, coke and petroleum products 11.26 per cent, paper and board 32.62 per cent, rubber products 25.13 per cent and pharmaceutical 7.61 per cent, non metallic products 4.79 per cent, textile 0.50 per cent and chemicals 0.19 per cent during the first seven 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-January 2012-13 period against the same period of last year:, fertilizers 7.15 per cent, electricians, 13.46 per cent, leather products, 4.28 per cent, wood products, 20.62 per cent, engineering products 12.21 per cent and automobiles 9.94 per cent during the first seven months of the ongoing fiscal year 2012-2013 against same period of previous year.