Massive Rise in production of Vehicles: PBS

truckproduction

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) in a report relating the production of heavy vehicles revealed that in the Fiscal Year (FY), 2015-16, the production of buses and trucks increased by 85.79 percent and 37.11 percent respectively.

Upon comparison of data collected by the Bureau, it was learnt that as many as 994 buses were manufactured during July 2015-June 2016, when compared to the 535 units produced during July 2014-June 2015. Consequently, the production of trucks also experienced a similar growth from an output of 3,694 units last year to 5,065 units manufactured this year.

The production of buses and trucks also increased by 113.33 percent and 8.50 percent on a year-on-year (Y-o-Y) basis during the month of May 2016, when compared to the same month of 2015. As many as 128 buses and 587 trucks were manufactured during May 2016, when compared to the 60 and 541 units produced respectively in May 2015.

Meanwhile, during July 2015-May-2016, the production of jeeps and cars witnessed a growth of 21.57 percent, when compared to the corresponding period of last year. As many as 168,363 jeeps and cars were manufactured this year when compared to 138,490 units produced last year.

Moreover, the production of Light Commercial Vehicles (LCVs) also witnessed a positive growth of 35.65 percent by going up from the output of 24,794 units during last year to 33,632 units this year. The production of motorcycles also increased by 16.65 percent during the period under review from 1,873,491 units during the first eleven months compared to 1,606,075 units produced during the corresponding period of last year.

However, the production of tractors declined by 30.84 percent during this period by contracting from the output of 45,332 last year to 31,350, this year. On a Y-o-Y basis, the production of jeeps and cars also witnessed a negative growth of 4.59 percent by going down from the production of 15,890 units in May 2015 to 15,161 units in May 2016.The production of LCVs also declined from 3,599 units during May 2015 to 2,114 units during May 2016, showing a negative growth of 41.26 percent.

Nevertheless, the production of motors cycles increased by 11.35 percent during May 2016, from 162,868 units in May 2015 to 181,358 units at present. The production of tractors also increased by 14.34 percent in May 2016, when the output was recorded to have increased from 4,141 units in May 2015 to 4,735 units now. The overall Large Scale Manufacturing (LSM) sector witnessed a growth of 3.45 percent during the first 11 months of the year 2015-16 when 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 recorded during the same period of last year, according to PBS. The indices monitored by the Ministry of Industries recorded the highest growth of 2.21 percent while a growth of 1.24 percent increase was witnessed in indices of Provincial Bureaus of Statistics (PBOS) and the indices of Oil Companies Advisory Committee (OCAC) decreased by 0.003 percent.

On a Y-o-Y basis, the industrial growth, however, decreased by 1.49 percent during May 2016, when compared to the same month of last year and by 3.47 percent on a month-to-month basis during May 2016, when compared to April 2016, the data revealed.

Source: Agencies

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