Eight core sectors growth slips to 2.3 pc in April

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SME Times News Bureau | 01 Jun, 2013
The growth in eight core industries slowed to 2.3 percent in April, 2013, compared to 5.7 percent growth in April, 2012, said the data released by the Ministry of Commerce and Industry on Friday.

The decline in the growth rate in April, 2013 was mainly on account of negative growth witnessed in the production of Crude Oil, Natural Gas and Fertilizer.

Coal production registered a growth of 3.1 percent in April, 2013 compared to its growth at 5.9 percent in April, 2012. However, during 2012-13 Coal production recorded a growth of 3.4 percent compared to its 1.3 percent growth during 2011-12.

While, crude oil production registered a growth of -1.2 percent in April, 2013 compared to its -1.4 percent growth in April, 2012. During 2012-13 growth of Crude Oil production was negative at -0.6 percent compared to its 1.0 percent growth during 2011-12.

The growth rate of Natural Gas production was negative both in April, 2013 at (-) 17.4 percent and in April, 2012 at (-) 11.3 percent. The growth of Natural Gas production was similarly negative at (-) 14.5 percent during 2012-13 and (-) 8.9 percent during 2011-12.

Petroleum refinery production grew at 5.6 percent in April, 2013 compared to 20.8 percent in April 2012. The growth of Petroleum refinery production during 2012-13 was 8.6 percent compared to its 3.1 percent growth during 2011-12.

Fertilizer production registered a growth of (-) 2.4 percent in April, 2013 compared to (-) 9.3 percent in April, 2012. Fertilizer production registered a growth of (-) 3.4 percent during 2012-13compared to 0.4 percent during 2011-12.

Steel production had a growth rate of 1.9 percent in April, 2013 against 2.3 percent in April, 2012. Steel production registered a growth of 2.5 percent during 2012-13 compared to 10.3 percent growth during 2011-12.

Cement production registered a growth of 8.3 percent in April, 2013 against 12.5 percent growth in April, 2012. The Cement Production growth was 9.3 percent during 2012-13 compared to its 6.7 percent growth during 2011-12.

Electricity generation had a 3.1 percent growth in April, 2013 compared to 5.4 percent growth in April, 2012. Electricity generation grew at 4.0 percent during 2012-13 compared to its 8.1 percent growth during 2011-12, it said.