LSM growth rises by 15pc; breaks 10-year record: Khusro
Minister for Industries Khusro Bakhtyar Friday said the country's Large Scale Manufacturing (LSM) industries growth had increased by 15 percent in the fiscal year (FY) 2020-21 which was the highest score in 10 years.
Addressing the press conference, he said due to COVID-19 outbreak, manufacturing and production sectors were badly affected around the globe and in Pakistan as well.
He said keeping in view the higher LSM growth, the country's gross domestic product (GDP) growth was expected to go up to 4.5 percent as compared to previous year 3.7 percent.
Khusro said Karachi was the main hub of economy, therefore, it was decided to build the largest information technology park in the premises of Pakistan Steel Mills.
The minister said the new industrial sectors would be introduced for enhancing exports and substituting imports of the country.
Pakistan Meteorological Department (PMD) Friday indicated that the rain expected from Saturday till Wednesday will subside the prevailing humid and hot weather conditions in the country and turn the weather pleasant.
The met office has informed that more monsoon currents are likely to penetrate in upper parts of the country from Friday night and likely to continue till September 01 (Wednesday).
Under the influence of this system, rain-wind-thundershower is expected in upper and central parts of the country during the period with occasional gaps.
Rain-wind-thundershower is expected in Kashmir, Islamabad, Rawalpindi, Attock, Chakwal, Jhelum, Gujrat, Mandi Bahauddin, Sialkot, Narowal, Gujranwala, Hafizabad, Lahore, Okara, Faisalabad, Sargodha, Mianwali, Kohistan, Shangla, Mansehra, Abbottabad, Haripur, Mardan, Charsadda, Nowshera, Dir, Chitral, Peshawar, Kohat, Waziristan, Gilgit-Baltistan (Ghizer, Astore, Diamir, Skardu, Gilgit, Hunza, Nagar, Ghanche and Kharmang) with occasional gaps from Saturday to Wednesday.
Heavy falls are also expected in Dir, Kohistan, Mansehra, Abbottabad, Muzaffarabad, Rawalpindi/Islamabad, Gujranwala, Sialkot, Lahore and Kasur from August 29 (Sunday night) to August 31 (Tuesday).
Rain-wind-thunderstorm is also expected in Tank, Karak, Bannu, Dera Ismail Khan, Jhang, Toba Tek Singh, Bhakkar, Layyah, Sahiwal, Bahawalnagar, Dera Ghazi Khan, Rajanpur, Khanpur, Khanewal, Multan, Kohlu, Loralai, Barkhan, Zhob, Musa khel, Quetta, Ziarat and Kalat on August 30 (Monday) evening or night and September 01(Wednesday).
About the possible impacts of this rain, the met office indicated possibility of damaging effects due to wind-storm during the period. Heavy rainfall may generate urban flooding in Rawalpindi, Gujranwala and Lahore on Monday night and Tuesday.
The met office has advised the concerned authorities particularly to remain alert during the forecast period.