Tuesday, July 23, 2024

Production of Large Industries Decreased 90.7% in One Year

Khadim Hussain, a Pakistan Stone Development Corporation active member and member of the Founder Group, voiced worry about the government figures showing a 90.7 percent decline in large industry production in January over the previous year.

For the fifth straight month, production has decreased, creating fears about jobs, particularly in the textile industry.

While speaking to a group of Ferozepur Board traders, he shared his opinions. He asserted that the contraction of major industries’ output indicates a potential slowdown in third-quarter economic development.

Due to the expiration of subsidies to the export industries, the situation could get worse in the fourth quarter.

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