Pakistan’s large scale manufacturing output hits 21-month high

F.P. Report

ISLAMABAD: Pakistan’s Large Scale Manufacturing (LSMs) industries registered a record 21-month high production output.

As per details, sectors including agriculture, petroleum products, textiles, and pharmaceuticals are among those witnessing a gradual surge in output.

The surge in LSM output is attributed to the government’s proactive measures, coupled with the effective interventions of the Special Investment Facilitation Council (SIFC) aimed at bolstering the economy.

Recent statistics reveal a promising trajectory, with the large-scale manufacturing index reaching 132.43% in January 2024, a slight increase from 132.39% recorded in December of the previous year.

Separately, Pakistan’s exports increased by 8.93 percent in the first nine months of the current fiscal year (2023–24) as compared to the same period in the previous year, according to data issued by the Pakistan Bureau of Statistics (PBS).

The country’s exports witnessed an increase of 8.93 percent to $22.914 billion in July-March (2023–24) compared to $21.036 billion in the same period in 2022–2023.

As compared to $43.724 billion, the country’s imports have decreased by 8.65 percent to $39.944 billion this year. According to the data, the trade deficit for the first nine months of the current fiscal year was $17.030 billion, compared to $22.688 billion for the same period last year, indicating a significant drop of 24.94 percent.