ISLAMABAD - The large-scale manufacturing (LSM) sector has registered paltry growth of 2.5 percent during five months (July-November) of the ongoing financial year against the same period previous year due to low production of steel and delay in sugar crushing.

According to the latest figures of Pakistan Bureau of Statistics (PBS), the Quantum Index Number (QIM) of LSM industries stood at 114.2 points during first five months of the ongoing fiscal year 2014-15 as compared to 111.43 points of the preceding year, registering an increase of 2.5 percent.

Trade analysts believed that industrial sector is not recording sufficient growth due to lower energy supply to the industries. Similarly, they attributed the low growth of LSM to low production of Pakistan Steels Mills and delay in sugar crushing.

The government has taken the notice of declining industrial growth this year, as Federal finance minister Senator Ishaq Dar already directed the Secretary Ministry of Industries to take steps for the improvement of the growth.

Meanwhile, it has posted growth of 4.89 percent in November 2015 over the corresponding period last year.

The industrial growth had recorded growth of 2.5 percent due to growth in 12 categories of items in the five months under review over the corresponding month of last year, reported the data of Pakistan Bureau of Statistics (PBS).  According to the figures of Pakistan Bureau of Statistics, major contribution towards positive growth in LSM performance in July-November 2014 was from textile 0.73 percent; food and beverages 0.62 percent; coke and petroleum products, 4.13 percent, electronics 0.19 percent, iron and steel products 24.58 percent, chemicals 7.02 percent, non-metallic mineral products 3.47 percent, rubber products 3.49 percent, engineering products 0.3 percent, pharmaceuticals 3.26 percent, automobiles 13.47 percent and leather products 6.41 percent.

However, some sector like wood products had shown negative growth of 77.61 percent, fertilizers 2.54 percent and paper and board 0.98 percent during the period under review.

In electronic and electrical goods, production of refrigerators recorded a positive growth of 11.51 percent; electric fans 1.23 percent, electric meters, 72.58 percent, electric transformers 198 percent, TV sets, 6.21 percent, storage batteries 5.23 percent and bicycles 15.32 percent during July-November period.

However, the production of deep-freezers declined by 14.58 percent; air-conditions 4.17 percent, electric bulbs 15.74 percent; electric motors 4.27 percent; switch gears 16.46 percent during the period under review over the same period last year.

In automobile sector, the production of trucks was up by 76.27 percent; tractors 51.91 percent; jeep and cars 16.78 percent; and motorcycles 1.52 pc during July-November 2014 from the corresponding period of last year. However, production of buses was down by 13.48 percent and LCV’s 6.22 percent during the period.

Pakistan Bureau of Statistics (PBS) computes LSM figures on production data received from the Oil Companies Advisory Committee (comprising 11 items), Ministry of Industries and Production (36 items) and the Provincial Bureaus of Statistics (65 items).