LCVs production up by 35.65 percent

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LCVs production up by 35.65 percent

ISLAMABAD, Aug 8 (APP): The production of Light Commercial Vehicles (LCVs) witnessed positive growth of 35.65 per cent during the first eleven months of the fiscal year 2015-16 compared to the corresponding period of last year.

As many as 33,632 units of LCVs were produced in July-May (2015-16) compared to the production of 24,794 units during July-May (2014-15), according to Pakistan Bureau of Statistics (PBS).

The production of buses and trucks during the period under review increased by 85.79 per cent and 37.11 per cent respectively.

As many as 994 buses were manufactured during the year under review compared to 535 units last year while the production of trucks was recorded at 5,065 units compared to 3,694 units last year.

The production of jeeps and cars witnessed growth of 21.57 per cent in production compared to the corresponding period of last year.

As many as 168,363 jeeps and cars were manufactured during July-May (2015-16) compared to the production of 138,490 units during July-May (2014-15), showing a surged of over 21.57 percent.

The production of motorcycles increased by 16.65 per cent during the period under review. The production of motorcycles stood at 1,873,491 units during the first eleven months compared to the production of 1,606,075 units during the corresponding period of last year.

However, the production of tractors during the period declined by 30.84 percent by going down from the output of 45,332 last year to 31,350 this year.

Meanwhile, the overall Large Scale Manufacturing (LSM) sector has witnessed growth of 3.45 per cent during the first 11 months of the year 2015-16 as compared to the corresponding period of last year.

The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 132.80 points during July-May (2015-16) against 128.37 points during same period of last year, according to the data of Pakistan Bureau of Statistics (PBS).

The highest growth of 2.21 per cent was witnessed in the indices monitored by Ministry of Industries followed 1.24 per cent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) decreased by 0.003 percent.