11.59% decline in large-scale manufacturing output
Pakistan Bureau of Statistics said in its report that a major decline of 11.59 percent has been recorded in production of major industries in February on an annual basis
Furnace of industry sat down, large-scale manufacturing growth was negative 11.59%, industries closed, employment was destroyed, and all industries including beverages, cement, car manufacturing, fertilizer manufacturing, and pharmaceutical manufacturing reached shutdown point.
Pakistan Bureau of Statistics has admitted the industrial disaster in the country. All the large scale manufacturing units started to present a picture of disaster. Production of major industries fell by 11.59% on a year-on-year basis in February.
Federal Bureau of Statistics has released production figures for major industries. According to this, a big decrease of 11.59% has been recorded in production of major industries in February on an annual basis.
According to statistics, a decrease of 5.56% was recorded in the production of major industries from July to February. In July-February, the production of food and beverage sector decreased by 1.97% and 6.14%.
According to Pakistan Bureau of Statistics, production of automobile sector decreased by 38.59%.The production of pharmaceuticals sector decreased by 22.41%.
According to Bureau of Statistics, a decrease of 3.89% was recorded in the production of iron and steel products. Tobacco 20.42% and textile sector production fell 14.03%.
According to report of Federal Bureau of Statistics, production of wood products decreased by 68.65%. The production of paper and board industries decreased by 3.37%.
According to Bureau of Statistics, production of chemicals decreased by 4.84% and fertilizer sector by 7.77%.
It should be noted that in recent days World Bank has also revealed in its report that another 3.9 million people in Pakistan have gone below the poverty line, while unemployment rate in Pakistan has increased from 6.2% to 7%.
