LSM sector shows 1.4 per cent growth

ISLAMABAD - Large-scale manufacturing (LSM) sector showed a growth of 1.40 percent during the first half (July-December) of the current fiscal year 2009-10 as compared to the same period of the last year, Federal Bureau of Statistics reported on Friday.
Official statistics (provisional) of Quantum Index Numbers of Large-Scale Manufacturing Industries, issued by Federal Bureau of Statistics showed that the LSM sector, which was presenting poor performance for past two years, was once again growing smoothly.
In the July-December of 2009-10, Quantum Index Numbers of LSM Industries stood at 193.80 points as compared to 191.11 points in the corresponding period of the previous year. Meanwhile in the month of December 2009, LSM sector showed growth of 6.82 percent.
LSM sector is the one of the major indicators of the economy, which shows industrial productivity of 100 items received from different sources i.e. Oil Companies Advisory Committee (OCAC), Ministry of Industries & Production and Provincial Bureaus of Statistics. The OCAC supplied data of 11 items, Ministry of Industries & Production supplied data of 35 items and Provincial Bureaus of Statistics provided data for 54 items.
The data provided by the OCAC of 11 petroleum products showed a negative growth in eight items during the first half of the current fiscal year over the same period of the last year. Kerosene oil registered a negative growth of 20.59 percent, high speed diesel, 3.09 percent, diesel oil, 15.42 percent, furnace oil, 13.95 percent, lubricating oil, 2.22 percent, jute batching oil, 6.42 percent, solvent naphtha, 14.24 percent, and LPG, 9.53 percent, in July-December period.
Following items in OCAC showed growth: jet fuel oil, 0.21 percent; motor spirits, 0.66 percent; and petroleum products, 17.75 percent; in the said period.
The Ministry of Industries and Production has reported negative growth in the production of sugar by 10.31 percent, cigarettes, 9.61 percent, cotton yarn, 2.10pc, cotton cloth, 0.31pc, Hessian, 4.64 percent, sacking, 20.43pc, caustic soda, 18.78 percent, glass plates and sheets, 10.61pc, coke, 19.99pc, and pig iron, 36.48 percent.
Similarly production of billets/ingots and HRC sheets/coil/plates witnessed a negative growth of 7.16 percent and 8.83 percent respectively for the same period.
The growth of 2.04 percent was reported by the Ministry of Industries and Production in paper and board during the period under review, 13.23 percent in soda ash, 4.38 percent in nitrogen fertilizer, 0.77 percent in phosphate fertilizer, and 16.30 percent in cement.
In auto sector, the production of trucks and light commercial vehicles (LCV) was declined by 4.23 percent and 34.27 percent respectively during July-December 2009-10 as compared to the same period of last year. However tractors, buses, jeeps and cars, and motorcycles were the only sectors in automotive whose production witnessed a growth of 27.31 percent, 8.84 percent, 17.62 percent and 54.51pc respectively during the period under review. The Provincial Bureau of Statistics supplied production data of 54 items with negative growth in 26 items during July-Dec 2009-10.