Industry grows 3.9pc in FY14
ISLAMABAD: Large-scale manufacturing (LSM) 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 of Pakistan Bureau of Statistics issued 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.
Also read: Large-scale industry expands 2.6pc
Major contribution towards positive growth in LSM performance in 2013-14 was from textile 1.32pc; food and beverages 7.16pc; petroleum products 6.22pc, paper and board 10.99pc; fertilisers 16.50pc; electronics 9.55pc; iron and steel products 5.58pc; leather products 11.65pc; chemicals 6.87pc; non-metallic mineral products 0.79pc and rubber products 11.47pc.
Last year, the LSM sector, which accounts for 70pc of industrial production, recorded a positive growth of 3.79pc.
Some sectors, like wood products, witnessed a negative growth of 27.57pc; engineering products 12.52pc; pharmaceuticals 0.17pc and automobiles 2.56pc 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 8.22pc; deep-freezers 43.12pc; air-conditioners was increased by 15.17pc; electric motors 31.20pc; and switch gears 44.95pc.
However, production of electric bulbs declined by 5.29pc; electric fans 2.16pc; electric meters 0.95pc; electric transformers 56.98pc; TV sets 7.90pc; storage batteries 1.10pc; generating sets 100pc and bicycles 11.82pc 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 12.37pc in LSM basket.
Vegetable ghee production increased by 3.68pc; oil 2.36pc; and tea blended 13.47pc.
The production of trucks was up by 39.05pc; buses 7.09pc; LCVs 20.39pc and motorcycles 3.17pc during the year under review.
However, production of tractors was down by 32.13pc, jeeps and cars 3.54pc during the year over the previous year.
Published in Dawn, August 26th, 2014