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Tractor production grew by 54.59% in FY 2016-17

Tractor production grew by 54.59% in FY 2016-17

ISLAMABAD: Tractor production in the country during financial year ended on June 30, 2017 increased by 54.59 percent as compared the production of same period last year.  According to the Computation of Quantum Index Numbers of Large Scale Manufacturing Industries, about 53,564 tractors were manufactured during the period from July-June, 2016-17 as compared 34,914 tractors manufactured during same period of last year.  On month on month basis, about 3,926 tractor were produced in the country during the month of June, 2017 as compared the production of 3,564 of same period of last year, it added. The output of tractors also increased by 10.16 percent to 3,926 units in June 2017 when compared to the production of 3,564 units in June 2016.

It may be recalled here that the Large Scale Manufacturing Industries (LSMI) in the country witnessed an impressive 5.6 percent growth during the fiscal year 2016-17 as compared to output of last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 139.29 points during July-June (2016-17) against 131.90 points during same period of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).

The highest growth of 4.18 percent was witnessed in the indices monitored by Ministry of Industries, followed by 1.22 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 0.21 growth in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 3.3 percent during June 2017 as compared to same month of last year, however, on month-to-month basis, the industrial growth decreased by 6.51 percent in June 2017 when compared to growth of May 2017, the PBS data revealed.