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POST TIME: 20 May, 2018 00:00 00 AM
Pakistan’s industries grow 5.88pc in current fiscal year’
Xinhua

Pakistan’s industries grow 5.88pc in current fiscal year’

The Pakistan Bureau of Statistics (PBS) said on Friday that Pakistan’s Large Scale Manufacturing (LSM) index posted an impressive growth of 5.88 per cent  during the first nine months of the fiscal year of 2017-2018 when compared with the same period of last year, reports Xinhua from Islamabad.

The Pakistan Bureau of Statistics, which is Pakistani government’s official agency to record and release economic numbers, said that the South Asian country’s LSM Quantum Index Numbers (QIM) was recorded at 149.26 points during July-March 2017-18 when compared with 140.97 points reported during the same period of the previous year.

According to the official figures, the best growth of 3.33 per cent  was posted in the indices monitored by the Ministry of Industries, followed by a growth of 1.84 per cent  in the products monitored by the Provincial Bureaus of Statistics (PBOS) and a growth of 0.72 per cent  in the indices of Oil Companies Advisory Committee (OCAC).

On a yearly comparison, Pakistan’s industrial growth improved by 1.81 per cent  in the month of March 2018 when compared with the same month of the last year. Similarly, on a monthly comparison, the South Asian country’s industrial growth flourished by 5.88 per cent  in March 2018 when compared with the previous month of the same year.

The Pakistan Bureau of Statistics data revealed that the major sectors, which posted growth during the nine-month period, included textile (0.44 per cent ), food, beverages and tobacco (2.67 per cent ), coke and petroleum products (12.31 per cent ), pharmaceuticals (4.37 per cent ), non-metallic mineral products (12.14 per cent ), automobiles (18.95 per cent ), iron and steel products (27.49 per cent ), electronics (45.16 per cent ), paper and board (8.95 per cent ), engineering products (5.51 per cent ) and rubber products (5.91 per cent ).