Mining sector touches 6.13 percent growth rate, highest in last 11 years

ISLAMABAD, Apr 26 (APP):The mining sector witnessed 6.13 percent growth rate, the highest in last 11 years, during the first eight months of the current fiscal year.
The growth was observed on the back of stellar performance of Large Scale Manufacturing (LSM) sector, according to the Economic Survey released here Thursday.
The overall manufacturing sector contributed 13.6 percent in gross domestic product (GDP). It has three sub- sectors, including Large Scale Manufacturing (LSM), Small Scale Manufacturing and Slaughtering.
The Large Scale Manufacturing (LSM) sector had 80 percent share in manufacturing and 10.8 percent share in the GDP, the Small Scale Manufacturing had 13.8 percent share in manufacturing and 1.9 percent in the GDP, and Slaughtering had 6.5 percent share in manufacturing and 0.9 percent share in the GDP.
The industrial sector maintained its upward growth trajectory at 5.8 percent which was the highest in last 10 years. Ample liquidity in the banking system, a highly investment friendly interest rate environment, low inflation, strong domestic demand for consumer durables were responsible for continued reasonable growth in the sector.