Large scale manufacturing witnesses 14.5 percent growth

Pakistan’s Large Scale Manufacturing (LSM) industry has seen an unprecedented growth in the last few months. Just for the month of November 2020 the LSM witnessed a massive growth of 14.5 percent.

Federal Minister for Planning, Development and Special Initiatives, Asad Umar in a Twitter statement said that 7.4 percent LSM growth was witnessed from July to November 2020. “Industrial growth is clearly accelerating,”

Federal Minister for Industries and Production Hammad Azhar also shared the data of the LSM growth on Twitter, saying that the Large Scale Manufacturing has posted a growth of more than 14 percent in November 2020 as compared to the same period a year ago. Hammad Azar said that capacity enhancements, new investments, and modernisation were already in play and Pakistan was successfully reversing the tide of de-industrialisation that began in 2008.