Charter of the Economy The growth rate of the major industries in large-scale manufacturing is given in Table 21.2. The pattern of growth in each industry is, more or less, the same as the sector, with the notable exceptions of cement industry which attained a peak growth rate from 2004-05 to 2009-10 and the sugar industry which reached a double-digit rate between 2009-10 to 2014-15. Table 21.2: Growth Rate of Major Industries Cotton Cotton Fertilizer Yarn Cloth 1999-2000 to 2004-05 6.6 16.6 5.7 2004-05 to 2009-10 4.3 1.8 2.0 2009-10 to 2014-15 3.8 0.5 2.0 2014-15 to 2019-20-0.2-0.4 3.8 2020-21(up to April) 10.3 10.0 7.4 Source: PES Vegetable Ghee 9.0 0.7 2.0 4.4 -2.8 Sugar 6.3 2.9 11.1 1.7 16.5 Cement 12.3 14.0 0.8 4.9 25.4 Cigarettes 6.2 1.7 -0.7 -1.4 19.8 According to the Census of Manufacturing of 2005-06, the share in the value of output of large-scale units of intermediate material inputs was close to 60 percent. The share of electricity and gas costs was estimated at 6 percent. According to more recent estimates, while the former share has remained, more or less, unchanged, the former share has increased to 11 percent. The small-scale manufacturing sector has a level of value-added equivalent to 30 percent of the large- scale sector. Given its widespread presence and informal nature it is difficult to derive its annual growth rate. The PBS assumes it to be close to 7 percent, which is clearly biased upwards. However, its share in sectoral employment is over two-thirds, given its relatively labor-intensive nature. Bulk of the employment is in units of textiles and apparel, leather, food and beverages and metal products. Pakistan had historically followed a policy largely of import substitution in the industrial sector. Table 21.3 highlights the extent of import substitution in the use of manufactured goods in the country. The research findings are very revealing. Already, by 2000-01, the extent of import substitution achieved was as high as 70 percent. However, even after eighteen more years, it has remained unchanged at 71 percent. Clearly, industry has not acquired greater ability to contend with the competition from imported manufactured goods. 202