Islamabad March 15 2023:The output of the Large Scale Manufacturing Industrial (LSMI) sector witnessed decrease of 7.90 per cent during January, the first month of the calendar year 2023, as compared to January 2022 as country’s central bank increases the policy rate to multi decade high, the Pakistan Bureau of Statistics (PBS) reported.
Overall the LSMI showed a decline of 4.40 per cent during July-January 2022-23 when compared with the same period of last year.
The main contributors towards overall negative growth of 4.40 per cent were food (0.32%), tobacco (0.55%), textile (2.71%) garments (3.81%), petroleum products (0.69%), cement (0.86), pharmaceuticals (1.22%), and automobiles (1.55%).
The production in July-January 2022-23 as compared to the same period of the corresponding year has increased in wearing apparel (44.47%), leather products (4.98%), furniture (73.80%), and other manufacturing (48.26%).
The provisional quantum indices of LSMI for January 2023 with the base year 2015-16 have been developed based on the latest data supplied by the source agencies, including the Oil Companies Advisory Committee, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).
