ISLAMABAD: The country’s economy has shown a slow revival, with a modest growth of 1.73 per cent in the second quarter of the current fiscal year (October-December), marking a slight decline from the 1.77pc recorded during the same period last year.

The coalition government led by the PML-N claims that the economy is on the path to recovery. However, the figures from the second quarter reveal a contrasting narrative when compared to the growth achieved under the caretaker government last year, according to data released by the National Accounts Committee (NAC) on Wednesday.

The modest quarterly growth was primarily driven by a 2.57pc increase in the services sector and 1.10pc in agriculture. However, the industrial sector contracted by 0.18pc, which dragged down the overall economic performance.

The State Bank of Pakistan expects GDP growth to remain in the upper half of the 2.5-3.5pc range for FY25, while the IMF forecasts a growth rate of 3.2pc. The Asian Development Bank has recently revised its forecast for Pakistan’s GDP growth, raising it to 3pc from the previous estimate of 2.8pc.

Industrial sector contraction drags down overall performance

The 112th meeting of the........

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