PBS: (PBS releases data on profile of large scale manufacturing)

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) has released data showing the latest profile of Large Scale Manufacturing (LSM) sector in the country.

The statistical details in this regard were submitted to the Finance Minister Ishaq Dar here Tuesday which revealed growth of 4.67 % in LSM in July 2015 as compared to 1.40 % in the corresponding month last year.

The major groups that contributed in the growth included automobiles which registered growth of 52.5 %, fertilizers 19.1 %, chemicals 15.2 % and leather products which have registered a growth of 10.8 %.

The PBS also informed the Minister that due to revision in indices the LSM growth of FY15 is now 4.96 % as compared to 4.08 % for FY14. This is a welcome development for GDP growth of FY 15. The previous provisional LSM growth of FY15 was estimated at 3.32 %.

The minister expressed satisfaction over the positive trend in the LSM growth and said that the government was doing all it could to facilitate every sector of the economy. He said after achieving economic stability the government now has its eyes set on sustainable and inclusive growth and the profile of the LSM sector augurs well for attaining this objective.