ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Asad Umar Tuesday said that Pakistan’s Large Scale Manufacturing (LSM) grew by 14.5 percent in November 2020 as compared to the same month in 2019. In a Twitter statement, Asad Umar said that 7.4 percent LSM growth was witnessed from July to November 2020. “Industrial growth is clearly accelerating,” the minister wrote.

Separately, the Federal Minister for Industries and Production Hammad Azhar also shared the data of the LSM growth on Twitter, saying that the Large Scale Manufacturing has posted a growth of more than 14 percent in November 2020 as compared to the same period a year ago.

Hammad Azar said that Pakistan was successfully reversing the tide of de-industrialisation that began in 2008. The minister said that capacity enhancements, new investments, and modernisation were already in play.

Copyright Business Recorder, 2021