Big industry production expands 2pc in March

The country’s large-scale manufacturing (LSM) sector recorded a consistent growth for the fourth consecutive month with a 2.04 per cent increase in March compared to the same period last year, according to data released by the Pakistan Bureau of Statistics on Wednesday. The quantum index of LSM industries was 115.53 points in March this year, while it stood at 113.21 in the same month last year. However, the index for March contracted 9.35pc from February 2024 — 127.44 points. The annual change in the LSM index has been mostly positive since August, 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 being seen as stimulants for the economy.