South Asian Business news and information

The Large Scale Manufacturing (LSM) industries experienced this growth due to rising production of other heavy industries. Business Recorder reports:  

LSM is one of the major indicator of the economy, which shows the industrial productivity of the 100 items received from different sources ie Oil Companies Advisory Committee (OCAC), Ministry of Industries & Production and Provincial Bureaus of Statistics.

OCAC provided data of 11 items and Ministry of Industries & Production provided data of 35 items, while Provincial Bureaus of Statistics provided data of 54 items. With 6.90 percent growth, overall QIM during July-November of fiscal year 2008 has reached 201.75 points from 188.72 points during the same period of last fiscal year.

The major share in the growth is shared by oil industries' production, as during the first five-month of the current fiscal, oil production (OCAC index) has gone up by 8.07 percent from 159.24 points in July-November of fiscal year 2007 to 172.09 points in July-November of 2008.

In the last fiscal year, the country’s target LSM growth was 13% but it reached upto 8.50%. This fiscal year, the LSM indices experienced a growth of 204.96 points. Major industries includes sugar, motorcycle, cement, coke, beverages, carpet yearn, high speed diesel, motor sprit, jute oil etc.  

From economical point of view, this is very good news for Pakistan. The country has been going through a tough time. Political stability is one of the key conditions for the success of any country. The ongoing political instability is going to affect the business both in short and long term. Despite all the problems, the industries have registered growth in their production. This is a great achievement. I pray and hope that political stability return to Pakistan as soon as possible.

If you want to check out the Quantum Index Numbers of LSMs and their computation, visit the following links:

http://www.statpak.gov.pk/depts/fbs/statistics/qim/qim.htm 

http://www.statpak.gov.pk/depts/fbs/statistics/qim/qim_report.pdf 

http://www.statpak.gov.pk/depts/fbs/statistics/qim/qim_details.pdf 

Related article:

Business Recorder