LSM industries grow 5% in first 5 mths of FY14]

LSM industries grow 5% in first 5 mths of FY14]

KARACHI: The country's large-scale manufacturing (LSM) industries have registered a growth of 5.23 percent in the first five months of this fiscal year 2013-14 (FY14) to 111.03 indices as compared to 105.51 indices in the same period of last fiscal, Pakistan Bureau of Statistics (PBS) reported.
The increase in output of LSM industries was mainly driven by industries that were monitored by Ministry of Industries (MoI) as the industries grew by 3.0 percent in the first five months of FY14 to the indices of 103.32 as against the indices of 132.77 in the same period of last fiscal. 
On monthly basis, in November 2013, the LSM industries output increased by 3.41 percent to 110.62 indices as compared to 106.97 indices in November 2012, however, on monthly sequential basis it decreased by 1.12 percent when compared to 111.88 indices in October 2013.
Despite the challenging economic conditions and the continuous energy crisis, LSM industries remained on the upward trajectory during the last year 2013. Contribution towards this growth mainly came from the industries that were monitored by MoI as sugar production increased enormously by 53 percent to 61.1 million tonnes in the first five months of FY14 as against 39.8 million tonnes in the same period of FY13. 
Similarly 16 other industries under MoI witnessed positive growth in the said period however, eight industries' production went down, mainly steel products and tractors' production declined massively in the period under review as the steel production decreased by 56.01 percent and tractors' production shrunk by 39.17 percent.
Growth of industries that were monitored by Oil Companies and Advisory Committee (OCAC) increased by 0.66 percent in the first five months of FY14 to 98.28 indices as compared to 89.21 indices in the corresponding period of FY13. Support mainly came from petroleum production that increased by 10 percent to 5.6 billion litres in the period under review as against 5.1 billion litres in same period of last fiscal.
Industries monitored by provisional Bureau of Statistics (BoS) registered 1.57 percent growth in the period under review to 140.03 indices as against 132.77 indices in the comparative period of FY13. The industries that grew were 38 and 22 industries witnessed decline in the said period. Despite mounting electricity tariff air conditioners production witnessed an enormous increase of 106.76 percent to 89,118 units in the first quarter of FY14 as against 43,065 units in the same period of FY13 due to sweltering climate across the country.
During the month under review, industries monitored by OCAC registered a yearly increase of 0.37 percent to 96.81 indices in November 2013 as against 91.68 indices in the same month last year. 
In November 2013, the indices of MoI witnessed a growth of 2.45 percent to 104.11 as compared to 100.40 and that of PBS increased by 0.60 percent to 136.46 as against 133.55 indices in the same month of FY13.
The manufacturing items that witnessed growth during the first five months period of FY14 included textile 2.05 percent, food beverages and tobacco 7.74 percent, coke and petroleum products 8.83 percent, paper and board 19.55 percent, fertilizers 32.82 percent, electronics 18.88 percent, iron and steel products 4.36 percent, leather products 12.89 percent, chemicals 3.20 percent, non-metallic mineral products 0.14 percent and rubber products 0.23 percent.
On the other hand, five manufacturing items that witnessed decrease in production during the first five months of FY14 included wood products 11.42 percent, engineering products 23.51 percent, automobiles 3.26 percent and pharmaceuticals 1.15 percent.

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