Industrial production in Sindh increases by 16.83pc in 10 months

KARACHI: Industrial production in Sindh increased by 16.83 percent during the first ten months of financial year 2020-21 compared to last fiscal. According to the latest figures released by Bureau of Statistics of Planning & Development Sindh, overall production in April 2021, however, decreased 8.35 percent as compared to last month, i.e. March 2021.

The industrial production in April 2021 significantly increased by 82.1 % as compared to corresponding month of last year.

Last year’s production was down significantly due to complete lockdown in province exactly in April 2021 last year (i.e. 2020) after situation caused by COVID was quite severe and industrial activity was completely closed except food related industries Despite the increase in production in comparison with last year, the industrial activity slowed down in April which is evident from the figures when it was down eight percent compared to month of March of 2021.

The role of Sindh province in large-scale manufacturing is very vital, the Sindh Bureau of Statistics stated this in its report and pointed out that Karachi contributes largely in the overall production of the province. Sindh Business Register (SBR) 2017 established by Sindh Bureau of Statistics, Planning & Development Department shows that 67% establishments/factories are located in Karachi Division and remaining 33% are located in other districts of Sindh.

For the timely and quality industrial statistics, Sindh Bureau of Statistics, Planning & Development Department has been conducting Monthly Survey of Industrial Production and Employment (MIPE).

This survey report includes 62 items manufactured in 22 large-scale industrial sectors from 537 establishments/factories in Sindh.

The Bureau in its report stated that industrial statistics is very essential tool to track industrial growth and implementation of policies in right direction. This sector has great importance for economic development of country.

As per the composition of Pakistan’s economy in 2019-20, the agriculture sector is 19.31%, industries sector is 19.29% and services sector is 61.4%.

Copyright Business Recorder, 2021