November 2022 saw a 3.55% rise in the output of the large-scale manufacturing industry (LSMI) when compared to the output of the previous month of the same year. According to the provisional LSMI quantum indices for November 2022 provided by the Pakistan Bureau of Statistics, the LSMI index increased from 108.45 points in October 2022 to 112.30 points in November 2022. The LSMI index decreased from 118.81 points in November 2021 to 112.30 points in November 2022, showing a negative increase of 5.49% for the output of the LSMI.  When compared to the same time last year, the large manufacturing sector overall saw a loss of 3.58% from July through November (2022-23). The LSMI was reported at 111.41 points for the first five months of the current fiscal year, compared to 115.55 points from July to November (2021-22).

The most recent information provided by the source agencies, including the Ministry of Industries and Production, the Ministry of Commerce, and the provincial Bureaus of Statistics, has been used to develop the tentative quantum indices of the LSMI for November 2022 with the base year 2015–16. Wearable garments climbed by 4.46%, leather items by 0.06%, electrical equipment by 0.04%, and furniture by 1.53% between July and November 2022, while other manufacturing increased by 0.17%. The sectors experiencing a reduction during the period being examined included food (1.02%), beverages (0.26%), tobacco (0.57%), textiles (2.47%), wood products (0.05%), paper and board (0.07%), petroleum products (1.02%), chemicals (0.06%), pharmaceuticals (1.34%), rubber products (0.02%), non-metallic mineral products (0.95%), iron and steel products (0.04%), fabricated metal (0.09%), wood products (0.05%), machinery and equipment (0.24%), automobiles (1.27%) and other transport equipment (0.36 %).

Credit : Independent News Pakistan-WealthPk