The output of edible oil increased in the first two months of the going fiscal year 2022-23 by 6.4% and 6.6% respectively as compared to the same months of last year.

The production of cooking oil increased to 81,897 metric tons in the months of July and August 2022. In the same months of last year, the production stood at 76,982 metric tons, according to the quantum index of Large-Scale Manufacturing Industries (LSMI), released here by the Pakistan Bureau of Statistics (PBS).

Domestic output of edible oil registered a growth of 2.9% this August over the same month of last year. This year, the production of edible oil stood at 39,845 metric tons, whereas in the month of August of last year, it was 38,713 metric tons, according to PBS data. Vegetable ghee was produced to the tune of 229,133 metric tons in the two months of July and August as compared to 214,950 metric tons produced in the same months of last year.

In August 2022, domestic production of vegetable ghee was recorded at 110,061 metric tons as against 109,334 metric tons in the same month of last year. Similarly, during the last two months of current fiscal year, tea blending witnessed a 7.2% increase to 28,184 metric tons as compared to 26,227 metric tons.

Manufacturing of beverages saw a decrease of 0.5% in the same first two months of July and September. Their production was recorded at 130.6 thousand liters as compared to 136.8 thousand liters in the same months of last year.

Production in the LSMI saw a growth of 0.6% on a year-on-year basis during the month of August 2022 as compared to the same month of last year. LSMI index went up from 114.1 points in last August to 114.8 points this August of 2022. Similarly, industry also grew from July into August by 3.9%.

Negative growth was witnessed in the industries of petroleum products (-1.2), cement (-2.0), and fertilizers (-0.2). A cumulative negative growth of 0.4% was recorded. Positive growth was recorded, however, in the industries of wearing apparel (5.3%), leather products (0.1%), paper and board (0.1%), chemicals (0.2%), iron and steel products (0.5%), furniture (2.3%) and other manufacturing (0.1%), in the months under consideration.

Credit : Independent News Pakistan-WealthPk