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Kathmandu Friday November 30, 2001 Marga 15, 2058.
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MPI growth rate slows
By Prem Khanal
KATHMANDU, Nov 29 - As an indication of
slowing industrial activities of the country, the overall Manufacturing Production Index
(MPI) in the first quarter of the current fiscal year registered a sluggish growth of 2.29
per cent as compared to 5.29 per cent recorded during the same period last year.
Manufacture of food products, which holds the
largest weightage in the index, declined by 0.02 percent where as such growth in the last
year was 7.54 per cent, according to the quarterly production statistics compiled by the
Central Bureau of Statistics (CBS).
Of food products, like last year, manufacture
of dairy products, particularly processed milk, dipped by around 7 per cent followed by
manufacture of beverages mainly due to the burgeoning anti-liquor campaigns. Despite
double-digit growth in the production of beer and soft drink, the whopping tumble of over
50 per cent in the production of liquor rectified dragged down beverage production index.
Similarly, the production of rice, wheat
flour, and biscuits also slipped during the period. The manufacture of biscuits registered
a huge decline of over 26 per cent while the production of rice and wheat flour slid down
by almost 4 per cent. The huge flow of cheap Indian rice into the country is the main
cause of low production of domestic cereals.
However, the production of vegetable ghee,
oil, and fats showed an encouraging surge of over 27 per cent whereas such growth last
year was 7.54 per cent. In the like manner, the production of animal feed also went up by
over 13 per cent against a decline of almost 7 per cent last year.
Along with the soaring exports of vegetable
ghee, its production during the first quarter of the current fiscal year, showed a growth
of over 30 per cent while mustard oil and soybean oil also increased by over 24 and 23 per
cent respectively.
Similarly, the production index of processed
tea also registered a healthy growth of 29 per cent while the production of noodles slowed
down to 4 per cent. However, the production of sugar stuck to the same level of last year.
The production of tobacco products, which
holds 13.78 per cent weight in the MPI, registered a surge of almost 15 per cent while
such growth during the same period last year was 7.70 per cent.
During the period, the manufacture of woolen
carpets, a major weight holder in the index of manufacture of textiles, slipped by 16 per
cent, clearly reflecting that the major foreign currency earning industry is still in the
doldrums.
Similarly, more intense decline of 20 per
cent was also observed in production of ready-made garments during the period, whereas it
had enjoyed a surge of 5.36 per cent last year. The decline in the production of carpet
and garment, which comprise 80 percent of total overseas export, indicate the deepening
gloom over the major exportable industries.
During the period, plastic industries showed
the biggest surge of almost 50 per cent against almost 33 per cent witnessed during the
same period last year. Similarly, the production of tire and tubes also increased by
almost 16 per cent whereas change in its production last year was nil.
As a sign of improving performance of the
construction sector, the production of cement, during the period, surged by around 22 per
cent. The production index for iron rods also increased by 3 per cent while the production
of corrugated sheet registered a marginal increase. However, the production of bricks
remained at the same level of last year while the production of wood and wood products
slumped by around 9 per cent.
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