Stories

Industries ramp up imports of plants, machinery

Pakistan has gradually ramped up imports of plants and machinery, indicating that industries are purchasing capital goods to sustain existing production levels as well as make necessary upgrade and expansion of factories as they foresee a promising growth outlook.

Pakistan Bureau of Statistics (PBS) reported that imports of machinery increased 41% to $671 million in December 2023 compared to $475 million in the same month of last year.

Overall, in the first half (Jul-Dec) of the current fiscal year, imports rose 11% to $3.60 billion as against $3.35 billion in the corresponding period of the previous year.