Business desk
ISLAMABAD – Pakistan’s large-scale manufacturing (LSM) has expanded by 11.7 percent during previous fiscal year (2021-22) with almost all sectors witnessing positive growth.
The LSM sector has recorded growth of 11.5 percent in June over the same period of the previous year, according to the latest data of Pakistan Bureau of Statistics (PBS). On monthly basis, the big industries had shown minor growth of 0.2 percent in June 2022 as compared to the May this year. Earlier, the LSM sector was showing negative growth in May and April on monthly basis mainly due to prevailing energy crisis and increase in cost of production.
The production estimation for LSM industries was made on the new base year of 2015-16. However, the PBS also released a separate estimation with old base of 2005-06. As per the old base 2005-06, the LSM grew by 14.2 percent in June compared to a year ago. On a month-on-month basis, the industry’s production increased by 8.2 percent. The growth is calculated at 7.7 percent in entire last fiscal year on the basis of the old base-2005-06. According to the PBS data, wood products output has increased by 115.7 percent, automobiles 49.4 percent, food 8.4 percent, tobacco 15.9 percent, textile 3.5 percent, furniture 180.2 percent, machinery and equipment 15.4 percent and iron and steel products 16.3 percent during the fiscal year 2021-22 compared to the same period last year.
The sectors showing decline during July-May 2021-22 compared to the same period of the previous year included rubber products 15.8 percent, fabricated metal 3.8 percent and other transport Equipment 11.2 percent.
