LSM sector grew at 16-year high in FY21: Dawood

ISLAMABAD: Prime Minister, Adviser on Commerce and Investment, Abdul Razak Dawood on Monday said the Large Scale Manufacturing (LSM) sector grew at a 16 year high level of 14.85 per cent in FY21.

The de-industrialisation that was taking place in Pakistan has now been reversed and this has been made possible government’s pro-industry policies, the adviser said this on his official twitter account here.

Dawood said the growth was led by textiles, food, beverages, tobacco, petroleum, and pharmaceutical, chemical, mineral, automobile, fertilizers and iron and steel products.

Earlier this month it was reported that Pakistan’s exports grew by 17.3 per cent to $2.35 billion in the first month of the fiscal year 2021-22 (1MFY22) i.e. July as compared to the same period last fiscal year (1MFY21).

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