Large Scale Manufacturing (LSM) sector recorded a growth of 3.9 percent during the first half of FY17, the same level realised last year, the State Bank of Pakistan''s second quarterly report issued Friday said. The report said that after a dull first quarter, the recovery in LSM growth in the second quarter of FY17 came from food, steel, cement, pharmaceutical, automobiles and electronic industries.
"Going forward, multiple factors are likely to provide further impetus of LSM growth, the SBP report said adding that these factors include supportive economic incentives for export industries, improved energy supplies, strong domestic consumer demand and an uptick in private sector credit for fixed investment purposes. Furthermore, the constraints that inhibited the growth of some industries in first quarter of FY17 are expected to dilute in the future.
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