Published On: Fri, Jan 24th, 2014

Large Scale Manufacturing Expands by 5.23pc

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Corporate News (Pakistan News) Large Scale Manufacturing

Corporate News (Pakistan News)

Stunning growth rate of 5.23pc has been witnessed in the first five months of new fiscal year in the Large Scale manufacturing sector.

Given the data provided by Pakistan Bureau of Statistics the growth was a function of a 11 major categories of items in July-November period of 2013-14 over the corresponding period of last year.

Major contribution towards positive growth was from textile 2.05pc, food and beverages 7.74pc, petroleum products 8.83pc, paper and board 19.55pc, fertilizers 32.82pc, electronics 18.88pc, iron and steel products 4.36pc, leather products 12.89pc, chemicals 3.20pc, non-metallic mineral products 0.14pc and rubber products 0.23pc.

Reporting a growth rate of 3.79 pc in the last year was a positive aspect however this time it surpassed the previous rate.

In spite of growth some sectors had in the months under consideration, a decline witnessed in wood products of 11.42pc, engineering products 23.51pc, automobiles 3.26pc, and pharmaceuticals 1.15 pc.

Over the last year, the LSM grew by 3.41pc on monthly basis. The expected growth rate was 4.4 of the government for the current fiscal year.

Given the months under consideration, growth was seen in electrical and electronic goods. Production grew in refrigerators by 11.76pc; deep-freezers was up by 122.41pc; air-conditioners 106.94; electric bulbs 27.235pc; electric motors 41.84pc; switch gears 103.69pc; TV sets 23.83pc and storage batteries 19.66 pc.

Though the electronic and electric sector grew on the whole, still decline in sub-sectors was observed. These include electric tubes production having a negative growth of 59.87pc, electric fans 1.10pc, electric meters 33.37pc, transformers 43.451pc; generating sets 100pc and bicycles 18.21pc during July-Nov 2013.

An overall growth weight age of 12.37pc was seen in the LSM category. Vegetable ghee production increased by 5.04pc; oil 7.23pc; and tea blended 2.03pc.

Influential sector of LSM was automobile industry which saw both positive and negative growth rates in its different product categories. Product categories with positive rate included trucks by 15.71pc; buses 12.06pc and LCVs 24.46pc over the same time span under consideration.  However, production of tractors was down by 39.17pc, jeeps and cars production 0.32pc; motorcycles 0.27pc during the July-Nov period in 2013over the last year.

 

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