Engineering Post Report
It was needless to emphatically mention that the manufacturing sector plays a pivotal role in backing the country’s economic profile. This sector was a key pillar of country’s economy creating employment opportunities, leading to the enhancement of exports and the Gross Domestic Product (GDP).
During financial year 2022-23, according to the National Accounts Committee of Pakistan Bureau of Statistics, the Industrial sector contracted overall by -2.94 % against targeted rate of 5.9 %, Manufacturing sector by -3.91 % against targeted rate of 7.1 %, Large Scale Manufacturing (LSM) by -7.98% against targeted rate of 7.1%, Small Scale Manufacturing was the only sector which grew by 9.3 % against targeted rate of 8.3 %.
The federal government was focusing on creating a conducive environment for manufacturing, commerce and mineral sectors through a number of development initiatives.
Ministry of Industries and Production plans to undertake 15 development initiatives in the manufacturing sector with an allocation of Rs 3000.000 million.
Similarly Ministry of Commerce intends t o to undertake just two development initiatives in the commerce sector during financial year 2023-24with total allocation of Rs 1100.000 million.
Moreover, Petroleum Division of Ministry of Energy intends to undertake four development initiatives in the mineral sector during the current financial year 2023-24 with an allocation of Rs 202-595 million.
During current financial year2023-24, the Geological Survey of Pakistan (GSP) will be undertaking geological mapping and research work in different areas of the country through Public Sector Development Programme (PSDP) as well as under its regular budget, for which annual field programmes have already been prepared.
This included mineral exploration and geological mapping of metallic and non-metallic minerals, geo-technical/geo-hazards studies and other allied studies including Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan.