Islamabad January 16 2025: Pakistan’s Large Scale Manufacturing Industries (LSMI) output decreased by 3.81 percent for November, 2024 when compared with November 2023 and 1.19 percent when compared with October 2024.
Overall Large Scale Manufacturing Sector has shown a growth of -1.25 percent during July to November 2024-25 when compared with the same period of last year.
Refineries output, Furniture production and electrical equipment’s manufacturing dropped by 16.2 percent, 53.5 percent and 11.9 percent on year-on-year basis during the month of November 2024. Meanwhile, Iron & Steel, Chemicals and Non-Metallic Mineral production is declined by 11.2 percent, 10.1 percent and 9.8 percent in November 2024.
Whereas production of Tobacco and Beverages improved by 22.6 percent and 10.9 percent during the month.
“We expect LSM to post moderate growth in FY25 as Pakistan consolidates macro stability aided by (1) receding interest rates and inflation, (2) low base effect, and (3) revitalizing domestic demand. However, growth would be dragged by (1) hike in energy prices and (2) slow pace of import growth” states Zeeshan Azhar Economist at Foundation Securities.
