Pakistan Industrial Growth: Has the economic wheel started to roll?
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ISLAMABAD (APP): The production of buses and trucks increased by 85.79 percent and 37.11 percent respectively during the first eleven months of the fiscal year 2015-16.
As many as 994 buses were manufactured during July-June (2015-16) compared to the production of 535 units during July-June (2014-15), according to Pakistan Bureau of Statistics (PBS).
Similarly, the production of trucks was recorded at 5,065 units during the period under review compared to the production of 3,694 units during the corresponding period of last year.
On year-on-year basis, the production of buses and trucks during the month of May 2016 increased by 113.33 percent and 8.50 percent respectively compared to the same month of last year.
As many as 128 buses and 587 trucks were manufacture during May 2016 compared to the production of 60 and 541 units respectively in May 2015.
Meanwhile, during July-May (2015-16), the production of jeeps and cars witnessed growth of 21.57 percent in production compared to the corresponding period of last year.
As many as 168,363 jeeps and cars were manufactured during July-May (2015-16) compared to the production of 138,490 units during July-May (2014-15), showing a surged of over 21.57 percent.
The production of Light Commercial Vehicles (LCVs) also witnessed positive growth of 35.65 percent by going up from the output of 24,794 units during last year to 33,632 units during the current year.
The production of motorcycles increased by 16.65 percent during the period under review.
The production of motorcycles stood at 1,873,491 units during the first eleven months compared to the production of 1,606,075 units during the corresponding period of last year.
However, the production of tractors during the period declined by 30.84 percent by going down from the output of 45,332 last year to 31,350 this year.
Meanwhile, on year-on-year basis, the production of jeeps and cars witnessed negative growth of 4.59 percent by going down from the production of 15,890 units in May 2015 to 15,161 units in May 2016.
The production of LCVs declined from 3,599 units during May 2015 to 2,114 units during May 2016, showing negative growth of 41.26 percent.
The production of motors cycles increased by 11.35 percent during May 2016. The production of motorcycles in May 2016 stood at 181,358 units compared to the production of 162,868 units in May 2015.
The production of tractors increased by 14.34 percent in May 2016 during which the output was recorded at 4,735 units compared to the production of 4,141 units in May 2015, the PBS data revealed.
Meanwhile, the overall Large Scale Manufacturing (LSM) sector has witnessed growth of 3.45 per cent during the first 11 months of the year 2015-16 as compared to the corresponding period of last year.
The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 132.80 points during July-May (2015-16) against 128.37 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).
The highest growth of 2.21 percent was witnessed in the indices monitored by Ministry of Industries followed 1.24 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) decreased by 0.003 percent.
On year-to-year basis, the industrial growth however decreased by 1.49 percent during May 2016 as compared to same month of last year while on month-to-month basis, the industrial growth decreased by 3.47 percent during May 2016 when compared to growth of April 2016, the data revealed.
