Islamabad: A slight decline of 0.4 percent on an annual basis has been recorded in the production of major industries in the first four months of the ongoing fiscal year in the country.
According to the monthly report on Large Scale Manufacturing Industries (LSMI) released by the Pakistan Bureau of Statistics, the index for the production of big industries from July to October was recorded at 112.33 points, showing a 0.4 percent decrease compared to the same period of the previous fiscal year.
The statistics reveal that during the same period of the last fiscal year, the index for Large Scale Manufacturing Industries (LSMI) production was recorded at 112.82 points. In October, the index for industrial production in the country was recorded at 111.06 points, indicating a 4.1 percent decrease compared to October of the previous year.
The report further states that in the first four months of the current fiscal year, there was a 0.6 percent decline in the food sector, 0.5 percent in coke and petroleum products, 0.2 percent in chemicals, 4 percent in textiles, 1.7 percent in pharmaceuticals, 0.3 percent in non-metallic minerals, 0.2 percent in machinery and equipment, and a 0.1 percent decline in other manufacturing.
In contrast, there was a decrease of 3.1 percent in the production of textile products, 0.1 percent in iron and steel, 1.5 percent in automobiles, 0.8 percent in tobacco, 0.5 percent in electrical appliances, 0.1 percent in paper and board, and a 0.1 percent decrease in the production of transport equipment.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription
