Focusing on the stats, it has been noticed that there has been a continuous and noticeable decline in the production of vehicles in Pakistan. The assembling of cars and jeep observed an overall 2.93% decrease during the last ten months 0f fiscal year 2018-19 compared to the same period of the previous fiscal year as reported by the bureau of statistics of Pakistan.
Comparing the production of cars and jeep during the year 2017-18 with the year 2018-19 showed that production of cars and jeeps went down from 196,677 units to 190,913 units, which shows negative growth of 2.93%. It was also observed that manufacturing of light commercial vehicles (LCV’s) has also decreased by 14.58% during this time period, after reviewing it was stated that production of LCV’s went down to 21,454 units from 25,117 units which is quite a noticeable decline. Moreover, production of motorcycles was also reviewed and there was a strong decrease in the manufacturing of motorcycle industry also from the output of 2,355,818 units last year to 2,076,059 units during 2018-19, it is a decrease of 11.88%. shockingly production of the truck also went through a massive decline of 29.96%, the output of 7,736 has now come to 5,418 units this year. During this period the only production of buses witnessed a positive growth of 13.43%, production of buses went up from 648 units to 735 units per year, which might not be the case soon too.
On a yearly basis, it’s safe to say that the manufacturing of cars along with jeeps has seen a fall of 27.19% in April 2019 alone against the output of last year’s April 2018. A total of 20,670 jeeps and cars were made during April 2019 against the production of 15,050 units during April 2018 as stated by PBS dataset. The assembling of motorcycles dropped by 16.24% from the output of 247,712 units to 207,479 units while the manufacturing of LCVs also decreased by 23.65%, from 2,512 units to 1,918 units.
Adding more to the crisis, tractors industry wasn’t lucky a little and witnessed a negative growth of 28.71% as the production of units declined from 7,950 units in April 2017-18 to 5,673 units in April 2018-19. All of which mainly due to the failing economy and most people not being able to afford the equipment they need, especially in the case of tractors.
It is applicable to mention after analyzing the data that generally large scale industries production has suffered a decline of 3.51% during the first ten months of present fiscal years compared to the same period of last year.
LSMI Quantum Index Number was set down at 145.54 points during July-April (2018-19) compared to 150.84 points during July-April (2017-18), showing negative growth of 3.51%.