Tractors’ production grew by 33.20%, reached 71,894 units during in FY 2017-18

The domestic production of tractors during fiscal year 2017-18 witnessed a growth of 33.20 percent as compared to the production during the fiscal year 2016-17

During the period July-June, 2017-18 about 71,894 tractors were manufactured as compared to the 53,975 tractors manufactured during same period of last year.

The local production of tractors grew by 15.21 percent as it was recorded at 3,926 units in June 2017, and it increased to 4,523 units in June 2018, according the Quantum Index Number of Large Scale Manufacturing.

It may be recalled that the overall Large Scale Manufacturing Industries (LSMI) of the country witnessed a growth of 5.38 percent during the year 2017-18 compared to last year. The LSMI Quantum Index Numbers (QIM) was recorded at 147.07 points during July-June (2017-18) against 139.55 points during July-June (2016-17), showing a growth of over 5.38 percent.

Meanwhile the production of trucks witnessed a growth of 5.76 percent by going up from an output of 608 units in June 2017 to 643 units in June 2018.

The production of trucks increased from 7,712 units during FY-17 to 9,187 units during FY-18, showing a growth of 19.13 percent while the production of tractors increased by 33.20 percent, from 53,975units to 71,894 units.

On year-on-year basis, the production of jeeps and cars increased by 40.90 percent during the month of June 2018 against the output of June 2017.

During the period under review, Pakistan manufactured 16,234 jeeps and cars during June 2018 against the production of 11,522 units during June 2017.

During last financial year, the production of light commercial vehicles (LCVs) witnessed an increase of 19.74 percent in production during the period under review by growing from 24,265 units last year to 29,055 LCVs during 2017-18.

The highest growth of 13.24 percent was witnessed in the indices monitored by Oil Companies Advisory Committee (OCAC) followed by 5.04 percent growth in the products monitored by Ministry of Industries and 1.17 percent growth in Provincial Bureaus of Statistics (PBOS).

On yearly basis, the industrial growth increased by 0.51 percent during June 2018 as compared to same month of last year, however, on monthly basis, the industrial growth decreased by 8.3 percent in June 2018 when compared to growth of May 2018, the PBS data revealed.

(APP)

Posted on: 2018-09-03T15:52:00+05:00

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