The Pakistan Bureau of Statistics (PBS) reports that the country’s Large Scale Manufacturing (LSM) industry grew by 0.92 percent in FY24 compared to FY23.
In comparison to June 2023, the LSMI output declined by 0.03 percent, while in comparison to May 2024, it plummeted by 4.70 percent.
Based on the most recent information provided by the source agencies, the tentative quantum indices of the Large Scale Manufacturing Industries for June 2024, using 2015–16 as the base year, have been created. The LSMI quantum index number (QIM) anticipated for June 2024 is 108.61 based on the large-scale manufacturing industries’ tentative quantum index numbers. QIM is projected to be 115.83 for July–June, 2023–2024.
Food (0.30%), tobacco (-0.42), textiles (-0.93%), apparel (1.19%), petroleum products (0.63%), chemicals (0.41%), pharmaceuticals (0.80%), non-metallic mineral products (-0.36), iron and steel products (-0.22), electrical equipment (-0.31%), cars (-0.62%), and furniture (0.37%) are the main drivers of the overall growth of 0.92 percent.
As compared to FY23, production of food, clothing, coke and petroleum products, chemicals, fertilisers, pharmaceuticals, machinery and equipment, and furniture increased in FY24, while production of tobacco, textiles, paper and board, non-metallic mineral products, iron and steel products, electrical equipment, cars, and other transport equipment decreased.
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Food (1.73%), clothing (8.24%), leather products (5.66%), wood products (11.79%), coke and petroleum products (9.81%), chemicals (5.26%), chemicals products (-3.42%), fertilisers (11.58%), pharmaceuticals (15.72%), machinery and equipment (45.52%), other manufacturing (7.60%), and furniture (14.96%) are the sectors that are growing between July-June 2023–2024 compared to July-June 2022–2023–24.
When comparing July-June 2023–2024 to July-June 2022–2023–the following sectors show declines: beverages (2.10 percent); tobacco (23.01 percent); textiles (5.23 percent); paper and board (0.43 percent); non-metallic mineral products (5.31 percent); iron and steel products (4.42 percent); fabricated metal (7.79 percent); computer, electronics, and optical products (12.44 percent); electrical equipment (9.47 percent); cars (25.03 percent); and other transport equipment (4.02 percent).
The petroleum products index increased from 86.79 in July-June 2022–2023 to 95.30 in July-June 2023–24, representing a 9.81 percent rise. In June 2024, there was a 3.35 percent decline in petroleum product production from May 2024 and a 28.30 percent increase from June 2023.
The output of high-speed diesel increased by 14.71 percent from FY23 to FY24, totalling 5.339 billion litres as opposed to 4.655 billion litres in FY23.
Furnace oil production increased by 20.19 percent from FY23 to FY24, totalling 2.633 billion litres as opposed to 2.191 billion litres in FY23. Compared to 867.573 million litres in FY23, jet fuel oil saw a negative rise of 7.90 percent in FY24, remaining at 799 million litres.
The production of cement experienced a negative growth of 4.54%, with an output of 39.566 million tonnes in FY24 as opposed to 41.448 million tonnes in FY23.