Large-scale production slowed to 3.56% in the first four months of this fiscal year as the industry felt the impact of higher raw material prices and gas shortages in the winter. Total LSMI production rose 3.56 percent in July-October 2021-22 compared to July-October 2020, according to data released by the Pakistani Statistics Bureau (PBS) on Thursday.

During the first two months of the current fiscal year, the LSM segment grew by 7.3 percent, which slowed down in September and October.

According to the Quantum Index for Large Scale Manufacturing (QIM), LSMI production declined 1.19 percent in October 2021 compared to October 2020 and increased 1.86 percent compared to September 2021.

LSM data released by PBS after being compiled by the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Committee (OCAC) and the Ministry of Industry showed OCAC monthly growth of 9.82% in October. Compared to 2021 versus the previous month and 14.75% annual growth versus October 2021.

The data showed that industries belonging to the Ministry of Industry showed an increase of 3.08% in October 2021 compared to September 2021 on a monthly basis, while an annualized growth of 1 was recorded in October 2021. 21% compared to the same. period. month 2020.

According to PBS, monthly data for LSM and BOS were down 2.57% in October 2021 compared to the previous month, while BOS Bank’s annual negative growth in October 2021 was 4.33% compared to October. 2020.

In July-October 2021-22, Production increased in textiles, food and beverages, tobacco, pharmaceuticals, cooking, petroleum products, chemicals, automobiles, iron and steel products, paper, cardboard, leather products, mechanical engineering. goods and wood products, while it declined for non-metallic mineral products and fertilizers, as well as electronics and rubber products.

In July – October 2021-22, compared with July and October 2020-21, the industries that experienced a decrease were non-metallic mineral products by 2.66%, fertilizers 7.23%, electronics 10.92% and rubber products 32.23%.

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