Production at big industries slows down.

Published date17 April 2024

KARACHI -- The production of goods at large-scale manufacturing industries (LSMI) such as food, textile, fertiliser and construction material dropped for the second consecutive month, contracting to around 126 on the Quantum Index of Manufacturing (QIM) for February 2024.

Pakistan Bureau of Statistics (PBS) reported on Tuesday that the LSMI reading dropped 4.14% to 126.1 in February when compared with January 2024. The heavy industrial sector, however, managed to grow 0.6% in the month under review as compared to the same month of last year.

'Overall, the large-scale manufacturing sector recorded a negative growth of 0.51% during July-February 2023-24 compared with the same period of last year,' the PBS reported.

Data breakdown showed that the production of goods in food, wearing apparel, coke and petroleum products, chemicals, fertiliser, pharmaceutical, machinery and equipment, and furniture sectors increased in FY24 while the output of tobacco, textile, paper and board, non-metallic mineral products, iron and steel products, electrical equipment, automobiles and other transport equipment decreased.

Experts said the large-scale manufacturing sector would continue to remain sluggish in the remaining four months of...

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