By Irfan Ahmed ISLAMABAD, April 21 (INP-WealthPK): The overall large-scale manufacturing industry (LSMI) growth was recorded at 8.4% in February 2022 compared to January 2022, according to the Pakistan Bureau of Statistics (PBS). The provisional Quantum Index numbers of the Large-Scale Manufacturing Industries (QIM) has been computed based on the latest production data of 112 items. On a year-on-year (YoY) basis, the industry grew by 6.8% during February 2022 compared to the growth of February 2021, WealthPK reported. The overall output of the LSMI increased by 4.6% during July-February 2021-22 compared to the corresponding period of 2020-21, with the base year 2005-06. According to the latest PBS data, the QIM was recorded at 156.9 points during July-February 2021-22 against 150.0 points during July-February 2020-21, showing a growth of 4.6%. The provisional QIM is computed based on the latest production data received from sources, including the Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MIP), and provincial bureaus of statistics (BOS). The Ministry of Industries' indices increased the most by 5.6% from July to February (2021-22), followed by the Provincial Board of Statistics' (BOS) indices, which increased by 2.8%, and the OCAC's goods, which increased by 0.3%. The production in July-February 2021-22 as compared to the corresponding period of the last fiscal year has been increased in textile, food, beverages and tobacco, chemicals, automobiles, iron and steel products, leather products, and paper and paperboard, while it decreased in non-metallic mineral products, fertilizers, electronics and rubber products. The major industries that showed positive growth during July-February 2021-22 included textile (0.4%), food, beverages and tobacco (1.5%), pharmaceuticals and chemicals (0.2%), automobiles (1.7%), iron and steel products (0.8%), fertilizers (0.1%), and paper and board (0.3%). On the contrary, the commodities that witnessed negative growth during the same period included non-metallic mineral products (0.3%), electronics (0.2%), and rubber products (0.1%). The OCAC recorded a month-on-month (MoM) positive growth of 0.4% in February 2022 against the previous month, and a 6.3% positive YoY growth was recorded in February 2022 against February 2021. Data showed that the Ministry of Industries-related sectors witnessed a negative growth of 5% in February 2022 against January 2022 on a MoM basis, while it registered a 9.7% YoY growth in February 2022 as compared to the corresponding month of last year. [caption id="attachment_66251" align="aligncenter" width="696"] Source: Pakistan Bureau of Statistics[/caption] Petroleum products witnessed a positive growth of 0.30% as its output increased from 9.393 billion liters in July-February 2020-21 to 9.421 billion liters in July-February 2021-22. On a YoY basis, petroleum products witnessed a 6.4% increase in February 2022 and remained at 1.152 billion liters compared to 1.084 billion liters in February 2021. Cement production witnessed a 2.95% negative growth during July-February 2021-22 and remained at 31.938 million tonnes compared to 32.909 million tonnes during the same period of last year.  On a YoY basis, cement production witnessed a 0.78% increase in February 2022 and remained 4.084 million tonnes compared to 4.053 million tonnes in February 2021. The number of Refrigerators produced grew by 13.21% from 808,635 units during the period under review to 915,464 units in July-February 2021-22. On a YoY basis, refrigerators’ production witnessed a 15.95% decrease in February 2022 and remained at 98,051 units compared to 116,660 units in February 2021. In the first eight months of the fiscal year 2021-22, the number of jeeps and cars witnessed a 60.49% increase to 153,162 from 95,436 in the same period of fiscal year 2020-21. Sugar production witnessed a 8.96% growth during July-February 2021-22 and remained at 5.778 billion tonnes as compared to 5.303 billion tonnes during the same period of last year.  On a YoY basis, sugar production witnessed a 21.06% increase in February 2022 and remained at 1.81 billion tonnes compared to 1.495 billion tonnes in February 2021. The production of the LSMI was strong in February, and it appears that the industry will continue to function well in the near future. The economic strength of a country is measured by the development of manufacturing industries. Industries help in eradicating unemployment and poverty by providing jobs. The manufacturing sector is crucial for the employment generation and development of an economy. The manufacturing industry generates more economic activity than other sectors. The country's large-scale industrial output is increasing, and this trend is projected to continue in the coming months.