ISLAMABAD: During the first seven months of the current fiscal year, tractor assembling in Pakistan experienced a remarkable 77% increase compared to the same period last year. Data from July to January 2023-24 reveals a total of 27,835 tractors assembled domestically, marking a significant rise from the 15,725 assembled during the corresponding months in the previous year.
The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for January 2024, released by the Pakistan Bureau of Statistics, highlight an impressive 80.11% growth in the manufacturing of machinery and equipment during the review period.
January 2024 witnessed a notable month-on-month surge in local tractor production, recording a remarkable 164.76% increase compared to January of the previous year. This resulted in the assembly of approximately 4,117 tractors compared to 1,555 units manufactured in January of the preceding year.
In contrast, automobile manufacturing experienced a decline of 46.21% during the same period compared to the previous year’s manufacturing output.
Although the Large Scale Manufacturing Industrial (LSMI) sector reported a modest 1.48% increase in output for January 2024 compared to the corresponding month of the previous year, the month-on-month production also showed a marginal 0.03% growth over December 2023.
Despite these fluctuations, the overall LSMI witnessed a slight decline of 0.52% during July-January 2023-24 compared to the same period in the previous fiscal year, as per PBS data.
