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The start of the current fiscal year has not been good for major industries, according to the Bureau of StatisticsMEERI News

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The start of the current fiscal year has not been good for major industries, according to the Bureau of Statistics

Islamabad (92 News) – The start of this fiscal year has not been a good one for major industries.

According to the Statistical Office, there was a significant drop in production from major industries in the first month. Large-scale production decreased by 16.5 percent compared to June 2022.

In July of the current financial year, there was a decrease of 1.4% compared to July of the previous financial year. Compared to the previous financial year, textile production decreased by 2.2 percent. The production of coke and petroleum products in the steel industry fell by 5.2 percent. Pharmaceutical production fell by 35.2 percent and food production by 9.3 percent.

According to the Bureau of Statistics, tobacco production fell 75.5 percent and machinery and equipment production fell 48.4 percent. Iron and steel production increased by 0.6 percent and ready-to-wear production by 4.4 percent. Furniture production increased by 2.2 percent and leather products by 0.1 percent. The production of 11 petroleum companies recorded a decrease of 1 percent.

According to the report, the output of major industries is 9.7 percent of GDP.

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