Large scale manufacturing sector witnesses 7.4pct growth: Farrukh

ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Friday said a growth of 7.4 per cent was witnessed in large scale manufacturing sector during the first six months of current fiscal year, from July to December 2021-22.

“This is a sign of economic stability, stressing that increase in production of large industries enhances economic activity,” he said in a tweet.

The state minister said those figures were enough to silent the people who unnecessarily cried over “destruction of economy”.

Read more: Govt approves policy to boost capacity of textile industry

Addressing a news conference in Islamabad, he had said the policy was approved by the federal cabinet at its meeting on February 15.

He had said one of the main objectives of the policy was to give internationally competitive gas and electricity tariffs to the textile industry.

Dawood had said the government had reduced duties on the import of raw material in the budget, and this tariff rationalization had been maintained in the policy. Similarly, he had said, the government would continue to provide financing facilities to the textile industry.