Large scale manufacturing up by 2.07pc during July-October

Despite ongoing energy crisis, floods and war on terror, Large Scale Manufacturing (LSM) sector of the country continued its better performance during the first four months of current fiscal year (July-October) with 2.07 per cent growth over the same period last fiscal year 2010-11. According to latest figures released by Federal Bureau of Statistics (FBS) on Tuesday, Quantum Index Number of LSM industries stood at 104.16 points in first four months of fiscal year 2011-12 as compared to 102.05 points of July-October period of the year 2010-11. According to statistics, LSM recorded growth of 4.68 per cent during the month of October over the month of September, Quantum Index Number of LSM industries stood at 105.48 points in October 2011 as compared to 100.76 points of September 2011. Trade analysts and economic experts believed that if the present trend continues in large scale manufacturing as well as in agricultural sector, government could achieve the revised economic growth target of 3.6 per cent in current fiscal year.
Quantum Index Numbers (QIN) of large scale manufacturing industries has been computed in the FBS on the basis of latest production data of 112 items received from various sources i.e. Oil Companies Advisory Committee (OCAC), ministry of industries and production and provincial bureaus of statistics. OCAC supplied data of 11 items, ministry of industries and production supplied the data of 36 items and provincial bureaus of statistics provided data for 65 items.
According to FBS figures, OCAC group grew by 0.41 per cent during first four months of the ongoing financial year; ministry of Industries registered a growth of 0.50 per cent and provincial BOS showed growth of 2.15 per cent in July-October period. In OCAC, commodities showed negative growth including jet fuel oil (5.56 per cent), diesel oil (38.98 per cent), lubricating oil (2.70 per cent), solvent Naphtha (7.89 per cent), and LPG (12.98 per cent) during first four months of current fiscal year 2011-2012 against same period last year. Meanwhile in OCAC, the following products showed positive growth rate including kerosene (35.20 per cent), motor spirit, (11.32 per cent), high-speed diesel (18.32 per cent), furnace oil, (1.08 per cent), and jute-batching oil (1.12 per cent). Ministry of industry index registered a negative growth of 0.50 per cent comprising 35 main industries in QIN of LSM. Industries showing positive growth includes, sugar (1.52 per cent), cigarettes, (1.11 per cent), cotton yarn, (6.67 per cent), cotton cloth, (2.21 per cent), Phos Fertilisers (4.53 per cent) and LCVs (17.97 per cent).