FY20: Seven manufacturing sectors post decline in profit

ISLAMABAD: The performances of several manufacturing sectors have deteriorated during the first eight months of the current fiscal year, it was learnt on Monday.

According to documents, as many as seven large-scale manufacturing sectors have posted a massive decline in growth during the July-February FY20 period.

The coke and petroleum sector recorded negative growth of 13.57pc during the period under review, as compared to -5.50pc in the first eight months of the last fiscal year.

Similarly, pharmaceutical sector’s growth was recorded at -5.81, while chemical sectors growth stood at -4.01pc, automobiles -6.02pc, iron & steel -10.26pc, electronics -36pc and engineering -7.57pc.

On the other hand, eight sectors including textile, food, beverage & tobacco, non-metallic mineral products, fertiliser, leather, paper & board, rubber products and wood products showed positive trend during the period under review.

The textile sector posted 0.37pc growth in the first eight months of fiscal year FY20, while food, beverage & tobacco grew by 0.71pc, non-metallic mineral products by 4.58pc, fertiliser by 5.99pc, leather +10.52pc, paper & board +5.21pc, rubber products +4.74pc and wood products +6.02pc, respectively.

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