The large-scale manufacturing industries (LSMI) have increased their outputs by 7.85 percent in the opening seven months of the current fiscal year as compared to the last year.
According to the stats issued by the Pakistan Bureau of Statistics (PBS) on Tuesday, the LSMI output increased by 9.13pc for Jan 2021 compared to Jan 2020, and 5.36pc over Dec 2020.
“The sustained and robust growth in the industry is expected to lift economic growth beyond earlier forecasts,” Minister for Industries Hammad Azhar said on Twitter.
The LSM index reached its second highest level of 175.15 earlier in January. Previously, it touched a high of 175.17 in March 2018, Topline Securities research highlighted.
Production has increased in the first seven months of the current fiscal year in several sectors including textile, food, beverages, tobacco, petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, automobiles, and fertilizers.
