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LCV’s output goes up by 18.54%: PBS

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The production of light commercial vehicles (LCVs) witnessed an increase of 18.54 percent during first eleven months of the fiscal year 2017-18 against the same period of last year, Pakistan Bureau of Statistics (PBS) reported.

As many as 27,178 LCVs were manufactured during July-May (2017-18) against the output of 22,927 in July-May (2016-17), showing growth of 18.54 percent, the PBS data revealed.

Meanwhile, on year-on-year basis, the production of LCVs witnessed decrease of 12.96 percent by going down from the output of 2,368 units in May 2017 to 2,061 units in May 2018.

It is pertinent to mention here that the overall Large Scale Manufacturing Industries (LSMI) of the country witnessed growth of 6 percent during the first eleven months of the current fiscal year compared to the corresponding period of last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 149.19 points during July-May (2017-18) against 140.75 points during July-May (2016-17), showing growth of 6 per cent.

The highest growth of 3.62 percent was witnessed in the indices monitored by Ministry of Industries, followed by 1.58 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 0.80 growth in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 2.76 percent during May 2018 as compared to same month of last year, however, on month-to-month basis, the industrial growth decreased by 11.63 percent in May 2018 when compared to growth of April 2018, the PBS data revealed.

(APP)

Posted on: 2018-08-06T13:06:00+05:00

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