ISLAMABAD: The industrial sector recorded a robust growth of 5.8 per cent during the first nine months of this fiscal year compared to 1.4pc in the corresponding period of last fiscal year, says Economic Survey 2013-14 on Monday.
The industrial sector contributes around 20.8pc to GDP; it is also a major source of tax revenue for the government apart from creating significant job opportunities.
The manufacturing, which is the most important sub-sector of industrial sector with 64.92pc share in the overall industrial sector, grew by 5.55pc during the period under review compared to 4.53pc in the same period last fiscal year.
Manufacturing has three sub-components led by Large-Scale Manufacturing (LSM) with share of 52.45pc, Small Scale Manufacturing (SSM) 7.97pc and slaughtering 4.49pc.
However, those sectors which recorded negative growth in July-March 2013-14 period included engineering products 21.40pc, wood products 8.91pc, pharmaceuticals 0.49pc and automobiles 0.01pc.The electricity generation and gas distribution grew by 3.72pc in the period under review compared to negative growth of 16.33pc last year.
LSM registered an improved growth of 5.31 percent as compared to the growth of 4.08pc last year, the economic survey said.
The LSM sector posted a growth of 4.3pc as compared to 3.5pc in the same period last year.
The survey added that positive growth of LSM was witnessed in fertilisers sector at 21.64pc, leather products 12.96pc, rubber products 9.48pc, paper and board 8.03pc, food beverages and tobacco 7.78pc, coke and petroleum products 7.48pc, chemicals 6.71pc, iron and steel products 3.38pc, electronics 2.91pc, textile 1.44pc and non-metallic mineral products 0.15pc.
Construction, another key segment with 11.48pc share in industrial sector, expanded by 11.31pc against negative growth of 1.68pc last year. “This is also the highest ever growth achieved by the sector since 2008-09,” the survey added.
Mining and quarrying sub-sector witnessed a growth of 4.43pc as compared to 3.84pc last year.
The small scale manufacturing witnessed a growth at 8.35pc against the growth of 8.28pc last year and slaughtering growth is recorded at 3.51pc as compared to 3.6pc.
Published in Dawn, June 3rd, 2014
