F.P. Report
ISLAMABAD: The first four months of the current financial year, spanning from July to October, witnessed a significant decline of 4.08 percent in the production of major industries across the country, as reported by the Federal Bureau of Statistics.
The data revealed a noteworthy downturn in the production of major industries during this fiscal year’s initial quarter, with October 2023 witnessing a 2 percent decrease, contributing to an overall reduction of 4.08 percent.
According to the Bureau of Statistics, the production of cotton yarn experienced a sharp decline of 24.73%, while the production of cotton fabrics dropped by 14.73% over the four-month period. Furthermore, iron and steel production recorded a 2.04% decrease, and the automobile industry faced a substantial decline of 48.94%.
The report highlighted some positive aspects, noting an increase in the production of garments by 26.52%, petroleum products by 7.55%, fertilizers by 8.91%, and cement by 7.10% during the same period.
These statistics underscore the dynamic shifts in various sectors, signifying both challenges and opportunities for the country’s economic landscape. (INP)
