Karachi: Pakistan’s Large Scale Manufacturing Industry (LSMI) witnessed a positive growth trajectory in March 2024, with production reaching 115.53 compared to 113.21 in March 2023, an increase of 2.04 percent.
However, output decreased by 9.35 percent from 127.44 recorded in February 2024, reported the Pakistan Bureau of Statistics (PBS).
Analyzing the nine months of fiscal year 2024 (9MFY24), the NGO sector fell 0.1 percent year-on-year.
Notably, the main contributors to this decline during 9MFY24 were Food (0.31), Tobacco (-0.66), Textiles (-1.47), Apparel (0.77), Paper & Board (-0.05), and Petroleum (0.31). , chemicals (0.60), pharmaceuticals (1.08), iron and steel products (-0.11), electrical appliances (-0.24), cars (-1.01) and furniture (0.60).
A review of manufacturing trends for the period July to March 2023-24 financial year shows an increase in production in various sectors including food, apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment and furniture.
Conversely, there was a decrease in tobacco, textiles, paper and boards, non-metallic mineral products, iron and steel products, electrical appliances, automobiles and other means of transportation.
