LSM sector grows at 16 years high in FY2021: Dawood
- By Web Desk -
- Aug 16, 2021
ISLAMABAD: Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Monday announced that the large-scale manufacturing (LSM) sector has grown at 16 years high level of 14.85 per cent in the fiscal year 2021, ARY News reported.
In a Tweet, Razak Dawood said: “I am glad to share that the LSM sector grew at 16 years high level of 14.85% in FY 21. The de-industrialization that was taking place in Pakistan has now been reversed and this has been made possible by Government’s pro-industry policies.”
I am glad to share that the LSM sector grew at 16 years high level of 14.85% in FY 21. The de-industrialization that was taking place in Pakistan has now been reversed and this has been made possible by Government’s pro-industry policies. pic.twitter.com/DLvJVxD0j1
— Abdul Razak Dawood (@razak_dawood) August 16, 2021
The growth was led by Textiles, Food, Beverages, Tobacco, Petroleum, Pharmaceutical, Chemical, Mineral, Automobile, Fertilisers and Iron & Steel products, he added.
Read more: Exports grow 17.3% to $2.35bn in July
Earlier this month it was reported that Pakistan’s exports grew by 17.3 per cent to $2.35 billion in the first month of the fiscal year 2021-22 i.e. July as compared to last year’s same period.