Pakistan's manufacturing growth increases 6.24 pct for 8 months of FY 2017-18

ISLAMABAD, April 10 (Xinhua) -- Pakistan's large scale manufacturing (LSM) industries grew by 6.24 percent during the first eight months of the fiscal year of 2017-18 on a yearly comparison, the Pakistan Bureau of Statistics (PBS) said on Tuesday.

According to the official data, the South Asian country's LSM Quantum Index Numbers (QIM) were clocked at 145.28 points during the period for July 2017 to February 2018 when compared with 136.75 points recorded during the same duration of the previous fiscal year.

The Pakistan Bureau of Statistics, which is Pakistan's premier government institution to release official economic data, said Pakistan recorded the highest growth of 4.08 percent in the indices monitored by the Ministry of Industries, followed by 1.54 percent growth in the products monitored by the Provincial Bureau of Statistics, and 0.62 percent growth in the indices of the Oil Company Advisory Committee (OCAC).

In the month of February 2018, the South Asian country's industrial growth surged by 5.52 percent when compared with the same month of last year. On the other hand, the industrial growth shrank by 1.51 percent in February 2018 when compared with the growth posted in January 2018.

According to the official figures, the major sectors which posted growth during the reporting period were textiles with 0.47 percent, food, beverages and tobacco with 2.33 percent and 10.26 percent in coke and petroleum products sector.

On the flip side, the LSM industries which remained in the red ink included chemicals production, fertilizers production, leather products, and wood products.

The Pakistan Bureau of Statistics computes the provincial QIM on the basis of the latest production data of 112 items, which is sourced from the OCAC, the Ministry of Industries and Production, and the Provincial Bureaus of Statistics. Enditem