Production of major industries recorded a decline of 9%

ISLAMABAD: The production of major industries in Pakistan recorded a decrease of 9.89 percent during the last financial year.

According to the Bureau of Statistics, the production of large-scale manufacturing industries recorded a decrease of 14.37 percent during May 2023 compared to May 2022.

During the last financial year, there was a decrease in the production of 8 sectors including cotton yarn, garments, iron steel, a 12.36 percent decrease in cement production, 12.23% decrease in petroleum products production was recorded.

Read more: LSM industries output declines 5.56% in first 8 months of FY23

Cotton yarn production fell by 21.38 percent and automobile sector production by 47.70 percent, fertilizer sector production by 9.24 percent, and iron and steel manufacturing by 4.76 percent.