Tractor assembling witnessed 6.71pc growth in two-months

Local tractor assembling, during the first two months of the current financial year, grew by 6.71 percent as compared to the assembling of the corresponding period of last year.

During the period under review, the local assembling of jeeps and cars decreased by 53.91 percent as about 14,328 jeeps and cars assembled as against the assembling of 31,085 jeeps and cars.

As against the corresponding period of last year, domestic jeeps and cars assembling reduced by 39.01 percent in August 2023 as compared to the same month of last year. During the period from July to August 2023, about 6,217 tractors were locally assembled as against the assembling of 5,826 tractors of the same period of last year, according to the data of the Pakistan Bureau of Statistics.

Pakistan Research Centre ranked top for its contribution to BRI

On month on month basis, tractor assembling in the country grew by 13.18 per cent during the month of July 2023 as 3,597 tractors were locally assembled against the manufacturing of 3,178 tractors in the same month of last year. It is worth mentioning here that the output of the Large Scale Manufacturing Industry (LSMI) increased by 2.52 percent for August 2023 when compared with August 2022 and 8.44 percent when compared with July 2023.

The QIM estimated for July-August, 2023-24 is 112.44, whereas overall LSMi has shown a growth of 0.50 percent during July- August 2023-24 when compared with the same period of last year.