Pakistan’s large-scale manufacturing (LSM) output contracted 3.5 per cent YoY in February 2025, marking a continued slowdown in industrial activity, according to data compiled by brokerage firm Topline Securities based on Pakistan Bureau of Statistics (PBS) figures. Cement production also plummeted during this period.
Cumulatively, during the first eight months of the current fiscal year (8MFY24-25), LSM output decreased by 1.9 per cent YoY. The index averaged 115.82 during July-February, compared to 118.07 in the 8MFY23-24. Cement production was 25.354Mt in July-February, compared to 27.09Mt in 8MFY23-24. This translates to a 6.4 per cent fall.
The LSM sector, which comprises key industries such as textiles, automobiles, beverages, iron and steel, and cement, has faced multiple headwinds over the past year including high interest rates, elevated energy costs and weak domestic demand. February’s decline follows a brief rebound in January, when the index reached a four-month high of 130.3, driven by increased production in select sectors.
by Abdul Rab Siddiqi, Pakistan.
