Pakistan’s Large Scale Manufacturing Industry (LSM) marked a 21-month high, noting a significant increase in production. In particular, sectors such as agriculture, petroleum products, textiles and pharmaceuticals are among those witnessing a gradual increase in production.
The increase in NGO production is due to the effective steps taken by the government’s Active Investment Facilitation Council (SIFC) aimed at economic development.
The latest statistics show a promising trajectory, with the large-scale production index reaching 132.43% in January 2024, a slight increase from the 132.39% recorded in December last year.
Most importantly, initiatives led by the Special Investment Facilitation Council (SIFC) have been instrumental in spurring growth in various sectors, especially agriculture and textiles. Estimates suggest that these important sectors, strengthened by appropriate interventions, will benefit.
In addition, the availability of credit to the private sector has been instrumental in generating positive performance in the industrial sector, driving overall economic growth.
These developments indicate promising prospects for Pakistan’s industrial landscape and indicate a positive path for economic prosperity in the near future.
