ISLAMABAD: Despite a 1,000 basis points cut in the key interest rate to 12pc since the start of the current fiscal year, the Large-Scale Manufacturing (LSM) sector continued to show sluggish performance, with production contracting by 1.22 per cent in January compared to the same month last year, according to data released by the Pakistan Bureau of Statistics on Monday.

The big industry production has seen a negative trend since August 2024, except in October, due to domestic and global factors. The LSM grew positively from December 2023 to May 2024 before entering negative territory in June 2024.

On a YoY basis, LSM dipped 2.65pc in August, followed by a decline of 1.92pc in September. However, it recorded a paltry growth of 0.02pc in October before contracting by 3.81pc in November and 3.73pc in December. The LSM expanded........

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