Govt destroyed industrial base of Pakistan: Asad Umar
- By Web Desk -
- Apr 17, 2023
Islamabad: Former Federal Minister and Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar on Monday lambasted the Pakistan Democratic Movement (PDM) government for the downslope of the industrial base of Pakistan, ARY News reported.
According to details, PTI leader Asad Umar has expressed concern regarding the decline of industrial production in Pakistan, stating that stated that industrial production in February 2023 decreased by 11.6 per cent compared to the previous year, which has severely damaged the country’s industrial foundation.
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Asad Umar tweeted on his social media website, Twitter, saying that at the time of the regime change large-scale manufacturing industries was growing by almost 12% in one year, but now declining at a rapid pace.
Large scale manufacturing index in feb 2023 down 11.6% vs feb last year. At the time of regime change large scale manufacturing was growing by almost 12% and in one year now it is declining by the same percentage. They have destroyed the industrial base of the country!!!
— Asad Umar (@Asad_Umar) April 17, 2023
Earlier in the day, it was learnt that the country has witnessed a sharp decline in big industry output by 11.59% on an annual basis due to political uncertainty.
Large-scale manufacturing shrank by 11.59% on an annual basis in the country following the unstable political situation of the country.
According to the data provided by the Pakistan Bureau of Statistics (PBS), the big industries released the statistics which showed a 0.50% decline in production in February, whereas, the decline soared to 5.56 from July to February.
The output of large-scale manufacturers of foods decreased by 1.97%, 6.14% in beverages, 20.42% in tobacco and 14.03% in the textile sector. Moreover, the production of wooden products witnessed a drop of 68.65% and 3.37% in the paper and board industries from July to February.
The big industries of chemicals saw a production drop of 4.84%, 7.77% in fertilizers, 22.41% in the pharmaceutical sector, 3.89% in iron and steel products and 38.59% in the automobile sector.