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Factory output stays sluggish

LSM down 2.07 per cent in 4MFY11
Ghulam Raza Rajani
KARACHI: Pakistan’s industrial output continued to show downward trend and contracted by 2.07 per cent in the first four-month of the current fiscal year mainly due to decline in production of petroleum, chemical and fertiliser sectors, according to data from the Federal Bureau of Statistics (FBS).
During the period, two subsectors decline in production as Oil Companies Advisory Committee (OCAC) reported 13.86 per cent drop in production, and Ministry of Industries down by 4.55 per cent, while Provincial Bureau of Statistics showed a growth in production by 3.64 per cent. On the other hand, month of October also saw the decline – slightly higher by 2.81 per cent over the same period last year, worrying industrial output of the country.
The FBS data further reveals that petro
leum sector witnessed a decline of 13.86 per cent in 4MFY11 over the corresponding period of last financial year mainly due to circular debt and devastating floods in the country. The output of furnace oil declined 16.3 per cent to 784.54 million liters from 937.47 million liters.
Similarly, production of high speed diesel declined 15.18 per cent to 1.13 billion liters from previous year’s same period of 1.34 billion liters.
The figures showed that in industries sector buses production reduced by 34.58 per cent, and tractors declined 4.29 per cent, pig-iron, nitrogen fertilizer and cements decreased 28.58 per cent 6.75 per cent and 12.44 per cent in July-October 2010 over the same period of last financial year.


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