Industrial sector shows positive growth: Survey

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Industrial sector shows positive growth: Survey

ISLAMABAD:The industrial sector of the country showed a growth of 5.80 percent provisionally on the back of

growth of mining and quarrying percent of 3.04 percent compared to negative growth of 0.38 percent last year.

According to the Economic Survey for fiscal 2017-18 released Thursday, the production of coal and lime stone increased by 5.7 percent and 13.4 percent and bauxites 37.2 percent.

Manufacturing grew by 6.24 percent compared to 5.82 percent last year. In manufacturing, LSM registered a growth of 6.13 percent compared to 5.62 percent last year.

The major contributor to this growth are petroleum products which increased by 10.26 percent, cement 11.05 percent, automobile 19.5 percent, iron and steel products 13.85 percent and electronics 38.79 percent while SME maintained the growth of last year percent and slaughtering also maintained the growth of last year, i.e., 3.52 percent.

Services sector has witnessed a growth of 6 percent for last two consecutive years. The reason is that in Pakistan, services sector has still great potential to grow and the government is making best efforts to provide enabling environment top economic agents to tap its potential.

Therefore the performance of the services sector remained broad based as all of the components of services sector contributed positively.

Electricity generation and gas distribution witnessed a low growth of 1.84 percent compared to the higher growth of 5.8 percent last year whereas the construction activities increased by 9.13 percent.

 APP/AFP