ISLAMABAD, Feb 17 (APP): The production of light commercial vehicles (LCVs) has witnessed 12.59 percent increase during the first half of the financial year 2020-21 against the output of the same period of last fiscal year.
As many as 8,798 LCVs were manufactured during July-December (2020-21) as compared to the production of 7,814 units during July-December (2019-20), showing growth of 12.59 percent, according to official data revealed by Pakistan Bureau of Statistics (PBS).
During the period under review, the production of cars and jeeps witnessed also increased by 5.07 percent as it surge from 62,956 units last year to 66,148 units during 2020-21. The production of motorcycles during the period under review rose by 17.66 percent by going up from the output of 1059,751 units last year to 1246,882 units during 2020-21.
However, the production of trucks decreased from 1,747 units last year to 1,557 units, showing decline of 10.88 percent while the production of Buses also declined by 13.80 percent, by going down from 326 units to 281 units. Meanwhile, on year-on-year basis, the production of LCVs rose by 237.18 percent, from 546 units in December 2019 to 1841 units in December 2020.
The production of jeeps and cars also increased by 44.26 percent by going up from 8,574 units in December 2019 to 12,369 in December 2020 while the production of motorcycles also increased by 23.66 percent from the output Of 169,904 units to 210,101 units.
The production of buses however witnessed decrease of 12.73 percent from the output of 55 units to 48 units in December 2020 whereas the production of trucks also declined by 13.48 percent from 267 units to 231 units.
It is pertinent to mention here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country during the first half of financial year 2020-21 witnessed growth of 8.16 percent as compared to the output of the corresponding period of last year. LSMI Quantum Index Number (QIM) was recorded at 143.30 points during July-December (2020-21) against 132.49 points during July-December (2019-20), showing growth of 8.16 percent, according to the data released by the Pakistan Bureau of Statistics (PBS).
The highest increase of 6.23 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.63 percent decline in the products monitored by the Provincial Board of Statistics (BOS) and an increase of 0.29 percent was witnessed in the indices monitored by the Oil Companies Advisory Committee (OCAC).
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