According to data from the Pakistan Bureau of Statistics (PBS), industrial production increased by 11.7% in the fiscal year 2021–2022
The yearly production of major industries increased by 11.7% in the fiscal year 2021–2022, according to PBS data. In June 2022, an increase of 11.5% was noted, it continued. In contrast to May 2022, the production rose by 0.2%.
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 notable gain of 49.4%.
The highest growth in production was witnessed in the timber and furniture sector. The Furniture sector grew by a staggering 180%, while the Timber by 115.7%.
The pharmaceuticals industry grew by 13.7%, chemicals by 9 %, Iron and steel by 16.3%, and the Beverage industry by 0.5%.
Earlier, Prime Minister Shehbaz Sharif announced a super-tax of 10 % on large-scale manufacturers and industries in the country in order to address the economic woes of the country.
The prime minister while announcing the tough decisions in the wake of the economic situation said that industries related to steel, cement, sugar, oil and gas, fertilizers, energy and terminal, and textile will face a 10 % tax.