LSM witnesses 5.91pc decline in Q1

[mhafeez]

The country's Large Scale Manufacturing (LSM) witnessed a decline of 5.91 percent during the first three months of the current financial year from 134.24 points in 2018-19 to 126.31 points in 2019-20, said Pakistan Bureau of Statistic (PBS) on Friday.

According to PBS Provisional Quantum Index Numbers of Large Scale Manufacturing Industries, the LSMI output was reduced by 5.63 percent for September 2019 as compared to September 2018. The PBS data revealed that LSMI growth witnessed an increase of 1.9 percent on month on month basis in September as compared to August 2019.

According to PBS data during July-September 2019-20 against July-September 2018-19, automobile industries growth registered a decline of 34.13 percent, iron and steel production declined by 17.04 percent, wood products growth declined by 28.76 percent, food, beverages and tobacco growth decreased by 8 percent, coke and petroleum products, 14.48 percent, pharmaceutical products, 11.95, percent, chemicals, 8.93 percent, non-metallic minerals products, 0.96 percent, and growth of paper and board declined by 2.01 percent.

The sector showing increase during the period from July-September 2019 included textile by 0.17 percent, fertilizers, 15.94 percent, leather products, 4.24 percent, electronics, 5.51 percent, engineering products, 12.54 percent, and rubber products, 2.29 percent.

The PBS said the provisional quantum of LSM for September 2019 with base year 2005-06 has been developed on the basis of latest data supplied by the sources agencies such as Oil Companies Advisory Council (OCAC), Ministry of industries and Provincial Bureau of Statistics (BOS).

The data said that during July-September 2019-20 as compared with same period of the last financial year, growth of 11 items related to OCAC industries witnessed a decline of 14.48 percent from 116.25 points to 99.42 points, Ministry of Industries related 36 items' growth registered a negative growth of 5.76 percent from 123.11 points to 116.03 points and 65 items related to provincial BOS showed a negative growth of 4.27 percent from 176.46 points to 168.92 points.

LSM witnesses 5.91pc decline in Q1

The country's Large Scale Manufacturing (LSM) witnessed a decline of 5.91 percent during the first three months of the current financial year from 134.24 points in 2018-19 to 126.31 points in 2019-20, said Pakistan Bureau of Statistic (PBS) on Friday.

www.brecorder.com

 

[Dream Seller]

Sher nass gya...England ch farishtay nai pohnch sakde?

 

[MianJi]

The period is too short to compare. You will need a longer term to get a better picture, especially in light of the black money fleeing the economy.

 

[concern_paki]

exclusive for mhafeez

 

[mhafeez]

The period is too short to compare. You will need a longer term to get a better picture, especially in light of the black money fleeing the economy.

The situation was almost same in the last year except Q1 of FY19.
Big industry contracts 3.6pc in FY19
he large-scale manufacturing (LSM) sector shrank by 3.64 per cent in 2018-19 against the growth projection target of 8.1pc for the outgoing fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Monday.

Big industry contracts 3.6pc in FY19

In June, the last month of the outgoing fiscal year, the big industry posted a negative growth of 5.05pc.

www.dawn.com

 

[MianJi]

Numbers can be spun any which way you like, but the reality of black money fleeing the economy cannot be negated. This will be better in the long run, and maybe that is what is troubling a lot of people.

The situation was almost same in the last year except Q1 of FY19.
Big industry contracts 3.6pc in FY19
he large-scale manufacturing (LSM) sector shrank by 3.64 per cent in 2018-19 against the growth projection target of 8.1pc for the outgoing fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Monday.

Big industry contracts 3.6pc in FY19

In June, the last month of the outgoing fiscal year, the big industry posted a negative growth of 5.05pc.

www.dawn.com

 

[mhafeez]

Numbers can be spun any which way you like, but the reality of black money fleeing the economy cannot be negated. This will be better in the long run, and maybe that is what is troubling a lot of people.

Do you even know what the LSM is all about?? It is about manufacturing of goods at large scale. What to with black economy??

 

[MianJi]

The biggest drop is in automobile industry, that is because of FBR requirement for documenting transactions. You should know that documentation and black money don't go together.

Do you even know what the LSM is all about?? It is about manufacturing of goods at large scale. What to with black economy??

 

[mhafeez]

The biggest drop is in automobile industry, that is because of FBR requirement for documenting transactions. You should know that documentation and black money don't go together.

LSM was growing with double digit in previous government so that means the previous government was transparent??

There is a big drop in steel, cement, auto, fertilizer, paper, food product, leather goods, sports goods, only power plants shown little growth.

 

[MianJi]

The double digit growth was due to black money being converted to white by funding unnecessary consumption of goods/materials. Lack of transparency, meaning no documentation of transactions by the government was the main reason for this irrational exuberance.

BTW, please revisit your list as the data you included in the original post shows the following;

/////////////////////////////////////////////////////////////
Declines:
automobile industries growth registered a decline of 34.13 percent
iron and steel production declined by 17.04 percent
wood products growth declined by 28.76 percent
food, beverages and tobacco growth decreased by 8 percent
coke and petroleum products, 14.48 percent
pharmaceutical products, 11.95, percent
chemicals, 8.93 percent
non-metallic minerals products, 0.96 percent
growth of paper and board declined by 2.01 percent

Increases:
textile by 0.17 percent
fertilizers, 15.94 percent
leather products, 4.24 percent
electronics, 5.51 percent
engineering products, 12.54 percent
rubber products, 2.29 percent
/////////////////////////////////////////////////////////////


As I said before, if we are seeing illegal capital abandoning the sectors, it should be a good thing in the long run.

LSM was growing with double digit in previous government so that means the previous government was transparent??

There is a big drop in steel, cement, auto, fertilizer, paper, food product, leather goods, sports goods, only power plants shown little growth.

 

[mhafeez]

The double digit growth was due to black money being converted to white by funding unnecessary consumption of goods/materials. Lack of transparency, meaning no documentation of transactions by the government was the main reason for this irrational exuberance.

BTW, please revisit your list as the data you included in the original post shows the following;

/////////////////////////////////////////////////////////////
Declines:
automobile industries growth registered a decline of 34.13 percent
iron and steel production declined by 17.04 percent
wood products growth declined by 28.76 percent
food, beverages and tobacco growth decreased by 8 percent
coke and petroleum products, 14.48 percent
pharmaceutical products, 11.95, percent
chemicals, 8.93 percent
non-metallic minerals products, 0.96 percent
growth of paper and board declined by 2.01 percent

Increases:
textile by 0.17 percent
fertilizers, 15.94 percent
leather products, 4.24 percent
electronics, 5.51 percent
engineering products, 12.54 percent
rubber products, 2.29 percent
/////////////////////////////////////////////////////////////


As I said before, if we are seeing illegal capital abandoning the sectors, it should be a good thing in the long run.

Production of fertilizer increased but sales was dropped.

November 2018: Fertiliser sales decline 17% despite higher production | The Express Tribune

Rise in output comes due to resumption of operations by two plants

tribune.com.pk

 

[MianJi]

Your original post is for the comparison between fiscal Q1, July-September 2018-19 and July-September 2019-20. The news report is for November 2018, which falls in fiscal Q2, hence is irrelevant to your topic.

Please re-read what I stated earlier (post #3) and it should become clearer what I meant.

Production of fertilizer increased but sales was dropped.

November 2018: Fertiliser sales decline 17% despite higher production | The Express Tribune

Rise in output comes due to resumption of operations by two plants

tribune.com.pk