KARACHI: Industrial production in Sindh has increased by 12.4 percent during the first nine months of current financial year compared to last fiscal.
According to the latest figures released by Bureau of Statistics of Planning & Development Sindh, overall production in March 2021 is slightly up by 0.29% as compared to last month, i.e. February 2021.
The industrial production in March 2021 is significantly increased by 32.4% as compared to corresponding month of last year.
The data shows that employment during March 2021 has almost no change as compared to previous month i.e. February 2021 whereas during March 2021, it decreased by 2.6% in comparison with March of last year.
Average monthly employment during the period of July-March of 2020-21 contracted by 5.9% than the corresponding period of last financial year.
The role of Sindh province in Large Scale Manufacturing is very vital.
However, Sindh QIM’s trend of overall manufacturing index is on declining side which mainly caused by COVID-19.
As Karachi is the largest metropolitan city of Pakistan, according to Karachi Chamber of Commerce and Industry (KCCI) it produces 15% of Gross Domestic Product (GDP).
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.
Bureau in its report stated that industrial statistics is very essential tool to track industrial growth and implementation of policies in right directions.
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
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