Large-scale manufacturing sector grows for third month in Feb
The quantum of large-scale manufacturing (LSM) rose 0.06 per cent in February, its third increase in a row, according to data released by the Pakistan Bureau of Statistics on Tuesday. The quantum index of LSM industries was 126.01 points in February compared to 125.93 in the same month last year. However, the index for the month was 4.14pc lower than for the previous month, January 2024, when it stood at 131.45 points. The annual change in the LSM index has been mostly positive since August 2023, when it rose 0.26pc. Before that, the index was down for 13 consecutive months. The removal of import restrictions, clearance of outstanding letters of credit and improved dollar liquidity following improvement in the State Bank’s foreign exchange reserves are considered to help pick up economic activity.