Large scale manufacturing expands 7.9pc in seven months

The country’s large-scale manufacturing (LSM) expanded by 7.85 per cent during the first seven months of the current fiscal year (7MFY21) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported on Tuesday.

On a month-on-month (MoM) basis, industrial growth witnessed an increase of 5.36pc in January 2021 when compared with December 2020.

Meanwhile, Minister for Production and Industries Hammad Azhar in a Tweet on Tuesday said that LSM grew 9.1pc in January 2021 as compared to Jan 2020. “The sustained and robust growth in the industry is expected to lift economic growth beyond earlier forecasts InshAllah,” he added.

Major sectors that showed positive growth during July-January FY21 included textile, food, beverages and tobacco, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, automobiles and fertilisers saw an increase in their production, whereas electronics, leather products and engineering products saw a contraction.

- Advertisement -
- Advertisement -

Must Read

Biden says final US debt ceiling deal ready to move to...

U.S. President Joe Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until Jan....