Big industry grows by 1.48% in January

ISLAMABAD (APP): The output of the Large Scale Manufacturing Industrial (LSMI) sector witnessed an increase of 1.48 per cent during the month of January 2024 compared to the same month of last year, the Pakistan Bureau of Statistics (PBS) reported. On month-on- month basis, the production in January also showed 0.03 percent growth over the output of December 2023.

Overall the LSMI showed a decline of o.52 per cent during July-January 2023-24 when compared with the same period of last year, according to PBS data.

The main contributors towards overall growth of -0.52% included, food (0.38%), beverages (0.12%), tobacco (-0.82%), textile (-1.90%), garments (0.86%), paper & board (-0.10%), petroleum products (0.44%), chemicals (0.46%), pharmaceuticals (1.32%), iron & steel products (-0.05%), electrical equipment (-0.31%) ,automobiles (-1.38%) and furniture (0.31%).

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for January, 2024 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies, including the Oil Companies Advisory Committee, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).