LSM Output Declines by 0.4% in First Quarter of FY23

The Large-Scale Manufacturing Industries (LSMI) output has declined by 0.4 percent during the first quarter (July-September) of the current fiscal year 2022–23 compared to the same period last year, as per the Pakistan Bureau of Statistics (PBS). According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM), the LSMI output increased by 0.01 percent for September 2022 compared to September 2021 and by 0.1 percent compared to August 2022. The QIM estimated for September 2022 is 115, and for July-September 2022–23, it is 113.4. The LSMI data released by the PBS with the base year 2015-16 showed that the main contributors towards the overall growth of -0.4 percent are garments (5.0), petroleum products (-1.4), cement (-1.4), pharmaceuticals (-1.8), iron and steel products (0.2), and automobiles (-1.5). The production in July–September 2022–23 as compared to July–September 2021–22 has increased in wearing apparel, chemicals, iron and steel products, and furniture, while it has decreased in food, tobacco, textile, coke and petroleum products, pharmaceuticals, rubber products, nonmetallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles, and other transport equipment. The sectors showing growth during July-September include beverages (3 percent), wearing apparel (58.1 percent), leather products (8.4 percent), wood products (5.3 percent), paper & board (23.5 percent), chemicals (4.1 percent), chemical products (6.9 percent), fertilizers (2.2 percent), iron & steel products (4.9 percent), and furniture (126.6 percent). The sectors showing decline during the July-September period include food (6.2 percent), tobacco (31.2 percent), textile (3.3 percent), coke and petroleum products (18.9 percent), pharmaceuticals (29 percent), rubber products (7.1 percent), non-metallic mineral products (13 percent), fabricated metal (18.7 percent), computer, electronics, and optical products (9.6 percent), electrical equipment (3.5 percent), machinery and equipment (37 percent), automobiles (32.8 percent), other transport equipment (42.4 percent), and other manufacturing (football) (59.1 percent).