According to the Pakistan Bureau of Statistics, industrial production in Pakistan decreased by 0.4% from July to September 2022.
PBS statistics show that from July to September, the nation’s total industrial production fell by 0.4%. According to PBS data, the production decreased by 0.1% annually.
Production in the food industry decreased by 6.2% between July and September, while production in the tobacco, textile, pharmaceutical, beverage, fertilizer, furniture, and iron and steel industries all experienced declines. However, according to data from PBS, industrial production rose by 11.7% in the fiscal year 2021–22.
The yearly production of major industries increased by 11.7% in the fiscal year 2021–2022, according to PBS data. An increase of 11.5 % was noticed in June 2022, it added. The production increased by 0.2 % in comparison to May 2022.
In 2021–22, the industries that produce and process food saw growth of 8.4%, while the tobacco industry saw growth of 15.9%. According to PBS data, the textile industry expanded by 3.5% while the automotive industry experienced a remarkable growth of 49.4%.
The pharmaceuticals sector had growth of 13.7%, chemicals by 9%, iron and steel by 16.3%, and the beverage sector by 0.5% over the past fiscal year.
Prior to this, Shehbaz Sharif, the prime minister, promised a 10% super-tax on major domestic companies and manufacturers as a solution to the nation’s economic problems.
In light of the current economic climate, the prime minister announced several difficult measures, including a 10% tax on the following industries: steel, cement, sugar, oil and gas, fertilisers, energy and terminal, and textile.