Pakistan News

Large-scale manufacturing expands 4pc

Large-scale manufacturing expands 4pc

ISLAMABAD: Large-scale manufacturing (LSM) grew 4.12 per cent year-on-year in the first seven months (July-January) of 2015-16, indicating some pick-up in the industrial activity.

In January 2016, the industrial output rose 5pc as compared to the same month last year, Pakistan Bureau of Statistics data showed on Monday.

Major sectors that contributed to the growth included automobiles (24.98pc), non-met­allic ­mineral products (13.01pc), ­fertil­isers (11.98pc), ­chem­icals (10.15pc), ­pharma­ceuticals (5.59pc) and ­food, beverages (6.72pc).

During the period, stability was seen in LSM growth as a number of groups performed well as compared to last year.

Iron and steel products showed improved performance on account of government bailout package. Likewise, the automobile sector flourished due to introduction of new models by automakers.

The growth in iron and steel products came on the back of a 14pc rise in the output of billets/ingots. The overall growth in steel production remained strong on account of capacity expansion.

On a year-on-year basis, trucks production rose by 34.94pc, buses 68.34pc, cars and jeeps 43.02pc and LCVs (light commercial vehicles) by 137.40pc.

Production of motorcycles increased by 18.12pc. However, the production of tractors fell 46.94pc, despite a cut in general sales tax (GST) from 16pc to 10pc in the latest budget.

In electronics products, positive growth was witnessed in production of switch gears by 30.84pc, deep freezers 27.24pc, air-conditioners 19.75pc and storage batteries by 3.34pc. However, the production of refrigerators and electric-bulbs, tubes, fans, motors, meters and electric transformers fell during the period.

In pharmaceuticals group, injections, capsules and tablets were the main contributors which managed to grow 11.09pc, 9.56pc and 3.68pc, respectively.

In non-metallic mineral products, cement grew by 7.63pc. Petroleum products growth came mainly on the back of 9.37pc rise in output of furnace oil, high speed diesel 5.09pc, lubricants 14.04pc, petroleum products 61.78pc and jet fuel oil 7.63pc.

In food and beverages and tobacco, ghee production rose 4.91pc year-on-year. Prod­uction of cooking oil increased by 9.22pc and tea by 14.48pc.

Published in Dawn, March 22nd, 2016

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