The large-scale manufacturing (LSM) sector has grown 7.45% in the first eight-month (Jul-Feb) of current fiscal year 2021 amid third wave of the Covid-19 pandemic in Pakistan, according to the Pakistan Bureau of Statistics (PBS). The LSM growth would largely offset impact of poor cotton production in agriculture sector and extend the much-needed support to the overall economic growth in the year. However, output of seven sub-sectors contracted, which were including iron and steel products, electronics, leather products, paper and board, engineering products, rubber products and wood products. Read: LSM sector grows 7.9% in Jul-Jan“The LSM Index output increased by 4.85% for (the single month of) February 2021 compared to February 2020,” PBS reported. Automobile sector surged 14.66% in the period compared to contraction of 35.93% in the corresponding period of last year.

Source: The Express Tribune April 14, 2021 04:15 UTC