Huge industry becomes 37pc in May

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The Large-Scale Manufacturing (LSM) continued its growth momentum within the fourth consecutive month as big industrial sectors’ output rose year-on-year by 36.84 percent in May, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday.

The overall output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57pc in July-May 2020-21 compared to 11MFY20. However, on a month-on-month basis, the economic output shrank 3.93pc.

The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC), and therefore the Ministry of Industries showed that the OCAC recorded month-on-month decline of 8.32pc in May against the previous month, and 4.15pc growth year-on-year in May against May 2020.

The data showed that the Ministry of Industry-related sectors witnessed negative growth of 6.49pc month-on-month in May, while on a year-on-year basis it registered a growth of 45.06pc.

The PBS data said that LSM-related data to the BOS month-on-month witnessed 2.35pc growth in May against the previous month, and on a YoY basis, BOS witnessed a growth of 29.59pc in May against May 2020.

The production in 11MFY21 as compared to 11MFY20 has increased in textile, food, beverages and tobacco, coke and petroleum products, pharmaceuticals, chemicals, automobiles, fertilizers, paper and boards, and iron and steel products, while it decreased in wood products, engineering products, electronics, rubber products, and leather products.

Textile — the highest contributing sector to the general big industry output — increased by 15.64pc, food, beverages, and tobacco 11.71pc, coke and petroleum products 16.22pc, pharmaceuticals 12.15pc, chemicals 18.78pc, automobiles 47.81pc, non-metallic mineral products 26.08pc, fertilizers 6.99pc, paper, and board 3.24pc, and iron and steel products 14.14pc during 11MFY21 compared to an equivalent period last year.

The sectors showing decline during July-May 2020-21 compared to July-May 2019-20 included electronics 5.76pc, engineering products 15.63pc, leather products 29.07pc, wood products 37.76pc, and rubber products 14.05pc.

The production of sugar posted a rise of 16.55pc to 5.683m tonnes in 11MFY21 compared to 4.876m tonnes within the same period last year. On year-on-year, it registered a 31.75pc growth in May.

The production of petroleum products increased by 16.22pc to 12.968 billion liters in 11MFY21 from 11.158bn liters in 11MFY20. In May the output of this sector grew 4.15pc.

Cement output soared to 48.36pc to 3.292m tonnes in May compared to 2.21m tonnes within the same month last year. However, it witnessed a 26.80pc growth to 45.137m tonnes in 11MFY21 over 35.598m tonnes produced in 11MFY20.

In the automobile sector, tractors production stood at 45,432 in 11MFY21, a rise of 59.03pc over 28,568 units produced in 11MFY20.

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