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LSM expands 4.35pc

LSM expands 4.35pc

ISLAMABAD: Large-scale manufacturing (LSM) rose 4.35 per cent year-on-year in the first eight months (July-February) of this fiscal year.

In February 2016, the sector grew 2.83pc as compared to the same month last year, Pakistan Bureau of Statistics data showed on Tuesday.

Major sub-sectors that contributed to the growth included automobiles (27.6­7pc), fertilisers (16.05pc), chemicals (11.26pc), leather products (11.51pc), rubber products (11.64pc) and non-metallic mineral products (8.61pc).

During the period under review, iron and steel products showed improved performance on the back of 19.76pc rise in the output of billets/ingots.

The overall growth in steel production remained strong on account of capacity expansion.

Likewise, the automobile sector flourished as trucks production grew 44.23pc, buses 77.54pc, cars and jeeps 37.10pc and LCVs (light commercial vehicles) by 104.45pc. Production of motorcycles increased by 17.14pc.

However, tractors production fell by 44.65pc during the period from a year ago.

Commercial vehicles demand increased on account of Punjab government’s ‘Apna Rozgar’ scheme.

In electronics, air-conditioners production rose 28.05pc, switch gear 28.14pc, electric transformer 1.80pc, TV sets 1.74pc and storage batteries by 2.39pc.

However, the production of refrigerators, deep-freezers and electric-bulbs, tubes, fans, motors, meters and electric transformers fell during the period.

In pharmaceuticals, injections, capsules and tablets managed to grow by 10.74pc, 7.60pc and 3.93pc, respectively.

In non-metallic mineral products, cements rose 8.69pc.

Petroleum products gro­wth came mainly on the back of 8.03pc rise in production of furnace oil, high-speed diesel 4.61pc, lubricants 17.51pc, petroleum products 61.14pc and jet-fuel oil 8.70pc.

In the food and beverages and tobacco group, ghee production grew 5.65pc, cooking oil 8.63pc and tea by 14.72pc.

Courtesy : Dawn News



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