Big industry grows by 0.06 % in February 2024

ISLAMABAD: The output of the Large Scale Manufacturing Industries (LSMI) witnessed an increase of 0.06 per cent during the month of February 2024 compared to the same month of last year, the Pakistan Bureau of Statistics (PBS) reported.

On month-on- month basis, the LSMI’s production in February 2024, however, decreased by 4.14 percent when compared with that of January 2024.

Overall the LSMI output showed a decline of 0.51 per cent during July 2023-February 2024 when compared with the same period of last year, according to the PBS data.

The main contributors towards overall growth of -0.51% included: food (0.46%), tobacco (-0.80%), textile (-1.75%), garments (0.46%), paper & board (-0.08%), petroleum products (0.24%), chemicals (0.55%), pharmaceuticals (1.21%), iron & steel products (-0.05%), electrical equipment (-0.26%) ,automobiles (-1.14%) and furniture (0.72%).

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for February 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 Bureau of Statistics (BoS).