Industrial Output Grows 1.97 Pc In Jul-Aug

ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Nov, 2016 ) : The country's large scale manufacturing (LSM) sector has witnessed growth of 1.97 percent during first two months (July-August) of current fiscal year as compared to the corresponding period of last year.

The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 122.18 points during July-August (2016-17) against 119.82 points during same period of last year, according to latest data of Pakistan Bureau of Statistics (PBS) released here on Friday.

The highest growth of 1.24 percent was witnessed in the indices monitored by Provincial Bureaus of Statistics (PBOS) followed by 1.1 per cent increase in indices of Ministry of Industries while the indices of Oil Companies Advisory Committee (OCAC) witnessed nominal decrease of 0.37 percent.

On monthly and yearly basis, the industrial growth, also increased by 6.03 percent and 1.49 percent in August 2016 as compared to July, 2016 and August 2015 respectively.

Meanwhile, the major sectors that showed growth during July-August (2016-17) included pharmaceutical (5.26 percent), non-metallic mineral products (13.69 percent), automobiles (3.60 percent), iron and steel products (12.91 percent), electronics (1.86%), leather products (0.77 percent), paper and board (1.11 percent) and rubber products (4.39 percent).

On the other hand, the LSM industries that witnessed negative growth, included textile (0.19 percent), food, beverages and tobacco (0.4 percent), coke and petroleum products (7.25 percent), chemicals (5.73 percent), engineering products (17 percent) and wood products (97.78 percent).

The provisional QIM is being computed on the basis of the production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS). OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.