ISLAMABAD: The government has set industrial growth target at 6.4 percent for the financial year 2015-16 to achieve sustainable economic growth as well as creating job opportunities for skilled work force in the country.
According to the ‘Annual Development Plan 2015-16’, to achieve the fixed growth targets of industrial sector, the government is determined to improve the energy supply and planned investment under the China-Pakistan Economic Corridor (CPEC) project.
The mining and quarrying sector is projected to grow by 6 percent, manufacturing by 6.1 percent and large scale manufacturing sector by 6 percent which would also create more job opportunities for skilled labor force in the country.
The small and household manufacturing sectors are projected to grow by 8.3 percent, construction sector by 8.5 percent and electricity generation and gas distribution by 6 percent during the year 2015-16.
The government has also planned fast-track energy and infrastructure projects under the CPEC which would play a significant role in the industrial growth during the period under review.
The performance of industrial sector during current financial year was recorded at 3.6 percent as against the set target of 6.8 percent. Energy shortage low foreign investment were the main factors for slow industrial growth in the country.