Local Tractor Assembly Grew By 65.26%, 41,327 Tractor Produced In 10 Months

ISLAMABAD, (UrduPoint / Pakistan Point News - 13th Jun, 2021 ) :Domestic tractor assembling witnessed about 65.26 percent growth during 10 months of current financial year as compared to the production of corresponding period last year.

During the period from July-April, 2020-21, around 41,327 tractors were locally assembled as compared to assembling of 2,500 tractors same period of last year, according the provisional Quantum Index Numbers of Large Scale Manufacturing Industries released by Pakistan Bureau of Statistics.

On month on month basis, tractor production grew by 168.31 percent from the month of April, 2021 as compared the same month of last financial year. The upsurge in local tractor assembling was mainly attributed with the incentives provided to local tractor manufacturing industry to promote farm mechanization across the country.

In April, 2021, about 4,674 tractors were locally assembled as against the assembling of 1,742 tractor in same month of last year, it added.

It is worth mentioning here that overall output of Large Scale Manufacturing Industries (LSMI) was increased by 12.84 percent during the period from July-April 2020-21 as compared to July-April 2019-20.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for April 2021 with base year 2005-06 have been developed on the basis of latest data supplied by the source agencies.

The LSMI output increased by 68.07 percent for April, 2021 as compared the output of April, 2020 and decreased by 6.99 percent if compared to March 2021, the data reveled.

The production in July-April 2020-21 as compared to July-April 2019-20 has increased in textile, food, beverages & tobacco, coke, petroleum products, pharmaceuticals, chemicals, non metallic mineral products, automobiles, iron, steel products and fertilizers.