ISLAMABAD – During July-November period of the current financial year, the large-scale manufacturing (LSM) sector has registered paltry growth of 2.5 percent against the same period previous year because of delay in sugar crushing and low production of steel, disclosed the Pakistan Bureau of Statistics (PBS).
The Quantum Index Number of LSM industries stood at 114.2 points during first five months of the ongoing fiscal year 2014-15 as compared to 111.43 points of the preceding year, registering an increase of 2.5 percent, as per the latest figures.
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Industrial sector is not recording sufficient growth due to lower energy supply to the industries, trade analysts believed. Likewise, they attributed the low growth of LSM to low production of Pakistan Steels Mills and delay in sugar crushing. The government has taken the notice of declining industrial growth this year, as Federal finance minister Senator Ishaq Dar already directed the Secretary Ministry of Industries to take steps for the improvement of the growth.
