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Trucks production up by 125.66pc: LSM grows 1.86% in Q1, textile up 1.03%

Trucks production up by 125.66pc: LSM grows 1.86% in Q1, textile up 1.03%

ISLAMABAD: The Quantum Index Number (QIM) of large scale-manufacturing (LSM) industries increased to 113.25 points during first the first quarter (July-September) of the current fiscal 2014-15 against 111.4 points last year, posting an increase of 1.86 percent growth of large scale manufacturing sector (LSM).

According to the data of Pakistan Bureau of Statistics (PBS), though the LSM sector’s growth was paltry in term of statistics, it reflected positive signs for the remaining period of the current fiscal year.

The data attributed the industrial growth to improvement in the growth of 12 categories of items during the period under review.

Similarly, the LSM sector registered growth of 1.82 percent in September 2014 as compared to the previous year. The PBS data showed that major contribution towards the growth was from textile 1.03 percent; food and beverages 2.71 percent; paper and board 2.96 percent, coke and petroleum products 0.94 percent, electronics 7.15 percent, Iron and Steel products 13.95 percent, Chemicals 6.2 percent, Non Metallic Mineral Products 0.67 percent, rubber products 0.67 percent, engineering products 0.66 percent; pharmaceuticals 2.57pc and automobiles 13.97 percent in the first quarter.  Some sectors like non-metallic mineral products witnessed a negative growth of 13.21pc; wood products 81.19 percent; fertilizers 4.07 percent and leather products 2.14pc during July-Sept 2014-2015.

On industrial side, the production of refrigerators recorded a positive growth of 9.46 percent; air-conditioners was increased by 4.23 percent; electric meters 45.86 percent, electric transformers 117.51 percent, TV sets 8.44 percent, storage batteries 14.34 percent and bicycles 17.11 percent.

However, the production of following items decreased including deep freezers recorded negative growth of 9.47 percent, electric bulbs declined by 27.2 percent; electric fans 1.6 percent, electric motors 3.5 percent; electric meters 2.83 percent; and switch gears 35.83pc during July 2014 the same month last year.

The production of trucks was up by 125.66 percent; tractors 85.24 percent, jeep and cars 11.48 percent, LCVs 3.16 percent and motorcycles 2.5 percent while buses production witnessed 17.14 percent decline during first quarter of the ongoing financial year.