Pakistan’s Large-Scale Manufacturing Surges 9.13% In January

Compared to the same period last year, production in the first seven months of FY 2021 has increased in several sectors.

Source: PBSThe overall output of LSMI (large-scale manufacturing industries) has increased by 7.85% in the first seven months of the fiscal year 2021 (July 2020 to January 2021) compared to the same period last year.

According to data disclosed by the Pakistan Bureau of Statistics (PBS) on Tuesday, the LSMI output increased by 9.13% for January 2021 compared to January 2020 and 5.36% over December 2020.

“The robust and sustained growth in the industry is forecast to lift economic growth beyond earlier forecasts,” the Minister for Industries, Hammad Azhar, said on Twitter.

According to the Topline Securities research, the LSM index touched its second-highest level of 175.15 earlier in January.

Earlier on, it touched a high of 175.17 in March 2018.

Compared to the same period last year, production in the first seven months of FY 2021 has increased in several sectors.

As per the PBS data, sub-sectors excluding trucks within the automobile sector posted immense growth in January from a year ago.

The production of tractors rose by 428.7%, buses 34.21%, jeeps and cars 27.38%, LCVs (light commercial vehicles) 86.95%, and motorcycles 4.38% during the month under review. The production of trucks dipped 46.29%.

Cement output also grew 38.10% during the month under review on the back of considerable demand following the beginning of construction activities and increased exports from the country.

The production of varnishes and paints was up 21.58%.

Sugar production is up by 24.96% in January from a year ago due to the sugar crushing season’s start. The government has already declared that sugar crushing has come to an end.

In the pharmaceutical sector, the output of syrups rose by 17.61%, injection 27.60%, and capsules 40.99%. The output of tablets dipped 7.6%, and ointments 12.56%, respectively.

Meanwhile, vegetable ghee and cooking oil production dipped by 4.30% and 6.41%, respectively.

The tea production was dipped by 4.72%, while wheat and grain milling grew 15.90%.

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