The Large Scale Manufacturing (LSM) sector has posted nine percent growth for the period of July-March 2021 in sharp contrast to the same period last year where the sector had posted 5.1 percent decline according to the Pakistan Economic Survey 2020-21.
This is the highest period-wise growth since FY2007 supported by promising performance of textile, food beverages and tobacco, and automobile. Out of 15 industrial sectors, nine showed positive growth, while six sectors showed a declining trend. The LSM has increased by 22.4 percent in March FY2021 against 21.7 percent decline in the same month last year, which was the time when the pandemic had started hitting business activities.
The prime minister’s construction package has contributed massively in uplifting the construction industry as well as all other allied industries such as cement, and iron and steel production.
Petroleum sales have also seen a sharp increase for July to March 2021. Comparatively lower prices of retail fuels, during the period, pushed up the petroleum sales by 14 percent hence, encouraged the petroleum production
Cement production witnessed a around 17 percent jump in production. Total cement dispatches during July-March FY2021 increased to 43.32 million tonnes (mt) from 37.03 mt last year.