Industrial production up for second trimester
Econet - State-owned enterprises increased industrial production by 11.8%. A year-on-year industrial production value increase of 15.4 % was seen over the January – August period, according to the Ministry of Industry.
State-owned enterprises increased production by 11.8%, private enterprises 21.6%, and foreign-invested firms 14.9%.
High growth was reported in coal, seafood processing, cotton, crude oil and knitwear production, despite the rising prices on petrol and other input materials.
However, growth was low for power production, rolled steel, electric and diesel engine production. In addition, prices on fertiliser, construction steel, cement and other industrial products remained high in August.
To reach the targets set for the third quarter and for the year, the ministry has asked enterprises to reduce production costs and raise competitive edge. It also suggested exploration of non-quota markets, and that steel and fertiliser producers work to stabilise prices.
