Major industries face a 4.40% decline in production

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Lahore: According to the Bureau of Statistics, during the months of July to January, there was a decrease in the production of 20 major industries of the country, while a decrease of 4.40% was recorded in the overall production of major industries. According to the details, the industrial activities in the country are suffering from slowdown due to which there has been a decline in large scale manufacturing. It is reported that industrial production has declined by 7.90 percent in January 2023 compared to January 2022, while the output of the textile sector, the backbone of the economy, has declined by 13.21 percent during the period. The Bureau of Statistics report stated that the production of vehicles has decreased by 35%, the production of machinery by 52%, the production of medicines by 22% and the production of tobacco by 21%. Production of wood products decreased by 68%, petroleum production by 10%, beverage production by 7%, rubber products by 7.68% and fertilizer production by 5.31%. According to the report, the production of computer, electronics products also decreased by 23%, but the production of garments, leather products, furniture and football increased.
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