The start of the current financial year has not been good for major industries, the Bureau of Statistics said
Islamabad (92 News) – The beginning of this financial year was not good for big industries.
According to the Bureau of Statistics, there was a significant decline in the production of major industries in the first month. Large-scale manufacturing declined by 16.5 percent compared to June 2022.
There was a decrease of 1.4% in July of the current financial year compared to July of the previous financial year. Compared to the previous financial year, textile production decreased by 2.2 percent. Production of coke and petroleum products in the steel industry declined by 5.2 percent. Pharmaceutical production fell by 35.2 percent and food production by 9.3 percent.
According to the Bureau of Statistics, the production of tobacco decreased by 75.5 percent and the production of machinery and equipment by 48.4 percent. Production of iron and steel increased by 0.6 percent and production of ready-made garments by 4.4 percent. Furniture production increased by 2.2 percent and leather products by 0.1 percent. The production of 11 petroleum companies recorded a decrease of 1 percent.
According to the report, the output of major industries is 9.7 percent of the GDP.