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Pakistan's industry grows 3.9% in FY14
Publication Date : 26-08-2014
Large-scale manufacturing (LSM) in Pakistan posted a growth of 3.95 per cent in the outgoing fiscal year 2013-14 from a year ago.
The industrial output witnessed a positive growth in the outgoing fiscal year mostly with few exceptions, where industries entered a negative growth, suggested data from Pakistan Bureau of Statistics on Monday.
This reverse in manufacturing sector growth was mainly driven by an increase in 11 categories of items during the year under review over the corresponding previous year.
Major contribution towards positive growth in LSM performance in 2013-14 was from textile 1.32 per cent ; food and beverages 7.16 per cent; petroleum products 6.22 per cent, paper and board 10.99 per cent; fertilisers 16.50 per cent; electronics 9.55 per cent; iron and steel products 5.58 per cent; leather products 11.65 per cent; chemicals 6.87 per cent; non-metallic mineral products 0.79 per cent and rubber products 11.47 per cent.
Last year, the LSM sector, which accounts for 70 per cent of industrial production, recorded a positive growth of 3.79 per cent.
Some sectors, like wood products, witnessed a negative growth of 27.57 per cent; engineering products 12.52 per cent; pharmaceuticals 0.17 per cent and automobiles 2.56 per cent during the year from the previous year.
Industry specific data showed that many sub-sectors didn’t perform well in July-June 2013-14 period.
In electronic and electrical goods, production of refrigerators recorded a positive growth of 8.22 per cent; deep-freezers 43.12 per cent; air-conditioners was increased by 15.17 per cent; electric motors 31.20 per cent; and switch gears 44.95 per cent.
However, production of electric bulbs declined by 5.29 per cent; electric fans 2.16 per cent; electric meters 0.95 per cent; electric transformers 56.98 per cent; TV sets 7.90 per cent; storage batteries 1.10 per cent; generating sets 100 per cent and bicycles 11.82 per cent during the outgoing fiscal year from a year ago.
The growth was witnessed in case of food, beverages and tobacco. The sector has adjusted weightage of 12.37 per cent in LSM bracket.
Vegetable ghee production increased by 3.68 per cent; oil 2.36 per cent; and tea blended 13.47 per cent.
The production of trucks was up by 39.05 per cent; buses 7.09 per cent; Light commercial vehicles 20.39 per cent and motorcycles 3.17 per cent during the year under review.
However, production of tractors was down by 32.13 per cent, jeeps and cars 3.54 per cent during the year over the previous year.