The large scale manufacturing (LSM) in the country has seen a decrease in output by 1.2 percent according to the data released by Pakistan bureau of statistics.
Compared to January this year, LSM was down 0.91pc while during July-February FY20, the LSM shrank by 3.03pc from a year ago.
LSM constitutes 80pc of the country’s total manufacturing and accounts for nearly 10.7pc of the national output. In comparison, small-scale makes up for just 1.8pc of GDP and 13.7pc of the secondary sector.
The main reason behind this declining trend has been the continuous weakening of rupee which led to multiple upward revisions in prices by the industry.
The hardest hit has been the auto-manufacturing industry showing decrease in sales in all sectors including buses trucks SUVs and sedans. Oil manufacturing and pharmaceutical manufacturing has also taken a hit due to regulatory issues and price revisions.
