Pakistan's LSMI production increases by 5.88% MoM

News Image

MG News | July 13, 2023 at 07:05 PM GMT+05:00

0:00

July 13, 2023 (MLN): Despite the country grappling with plunging reserves, an economic slowdown, and import restrictions, Pakistan’s Large Scale Manufacturing Industries (LSMI) production has registered an increase of 5.88% MoM in May 2023 to stand at 110.60 compared to 104.46 in April 2023, Pakistan Bureau of Statistics (PBS) reported today.

On the other hand, the big industry output has dropped by 14.37% YoY against 129.17 recorded in May 2022.

On a cumulative basis, during 11MFY23, the LSMI decreased by 9.87% YoY to 115 compared to 127.59 in 11MFY22.

The main contributors towards the overall growth of -9.87% are Food (-1.30), Tobacco (-0.63), Textile (-3.66) Garments (2.58), Petroleum Products (-0.81), Chemicals (-0.54), Cement (-0.76), Pharmaceuticals (-1.59), Iron & Steel Products (-0.22), Electrical Equipment (-0.49) and Automobiles (-2.08).

The production in July-May 2022-23 as compared to July-May 2021-22 has increased in Wearing apparel, Furniture and Other Manufacturing (Football) while it decreased in Food, Tobacco, Textile, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non-Metallic Mineral Products, Machinery and Equipment, Automobiles and Other Transport Equipment.

This negative growth in LSMI output in 11MFY23 has been attributed to a range of factors including weak macros, monetary tightening, supply chain disruptions, and an increase in energy costs. Additionally, political instability in the country has also contributed to the shrinking output.

Overall, the decline in LSMI output represents a significant challenge for Pakistan's economy and highlights the need for continued investment and support for the country's industrial sector.

The provisional quantum indices of LSMI for April 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e OCAC, Ministry of Industries & Production, Ministry of Commerce and Provincial Bureau of Statistics (BoS).

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 154,277.19
471.37M
1.06%
1611.47
ALLSHR 94,348.18
1,076.75M
0.89%
835.46
KSE30 47,063.22
194.28M
1.21%
563.54
KMI30 223,849.80
250.88M
1.57%
3467.85
KMIALLSHR 63,265.69
539.59M
0.90%
566.38
BKTi 42,116.21
179.13M
1.12%
468.14
OGTi 31,247.50
31.17M
1.21%
373.42
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 112,060.00 113,810.00
110,480.00
1815.00
1.65%
BRENT CRUDE 65.67 67.05
65.07
-1.32
-1.97%
RICHARDS BAY COAL MONTHLY 87.75 0.00
0.00
-0.75
-0.85%
ROTTERDAM COAL MONTHLY 94.80 95.40
94.80
-0.70
-0.73%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 61.97 63.49
61.45
-1.51
-2.38%
SUGAR #11 WORLD 15.58 15.74
15.51
-0.11
-0.70%

Chart of the Day


Latest News
September 06, 2025 at 12:02 PM GMT+05:00

Pakistan to experience major internet slowdown


September 06, 2025 at 11:36 AM GMT+05:00

SBP raises over Rs654bn through Fixed Rate PIB


September 06, 2025 at 11:22 AM GMT+05:00

Trump revives plan to host G20 at his Miami Resort


September 05, 2025 at 11:09 PM GMT+05:00

KE Retail Sukuk Launch Ceremony Postponed



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg