Pakistan's industrial production grows by 4.52%
June 21, 2010
Pakistan's industrial production witnessed steady growth of 4.52 percent in the first 10 months of current financial year (from July 2009 to April 2010), mainly on the back of strong performance of consumer goods manufacturing sector, local newspaper Daily Times reported Saturday.
The growth in industrial output went further higher in the month of April alone, recording 5.59 percent increase, compared to the corresponding month of last year, the report said.
Pakistan's industrial production massively fell in the last financial year, however it started recovering from August 2009. This fiscal and growth trend has continued so far during the current financial year.
"The turnaround in industrial growth has been led by the consumer discretionary sector, with production growth of high double digits in autos and allied products, and in electronic goods. Pharmaceuticals, leather goods, and fertilizer also contributed to overall industrial growth," the recently Economic Survey of Pakistan cited the reasons for the overall performance of industrial sector.
Despite stronger export order, books for some segments of the textile industry from around November last year, especially for cotton yarn, reported positive growth. There is a trend of improvement in this sector and if external demand for exports remains strong in the months ahead, the overall sector may benefit further, it added.
Source:Xinhua
Pakistan's industrial production grows by 4.52% - People's Daily Online
Pakistan's industrial production grows by 4.52%
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