ISLAMABAD: The Finance Ministry has projected encouraging signs for economic growth in October 2024, focusing on the recovery of key sectors such as manufacturing and agriculture. In its latest ‘Monthly Economic Update and Outlook,’ the ministry emphasized that while challenges persist, a shift towards revitalization is evident.
Large-scale manufacturing (LSM) is showing early signs of recovery, with month-on-month growth indicating that industries are beginning to stabilize. The ministry noted, “Despite ongoing challenges in the domestic market, the uptick in industrial output is a positive signal for economic momentum moving forward.”
Additionally, the agricultural sector is experiencing a transformation with advancements in technology and resource management. The report highlighted ongoing efforts to modernize practices, particularly in cotton production, suggesting a promising outlook for sustainable growth in FY2025. “These innovations align with the government’s commitment to fostering a resilient agricultural framework,” the ministry stated.
Furthermore, the external trade environment appears to be improving, with rising imports indicative of an uptick in economic activity. Overall, the Finance Ministry’s insights paint a cautiously optimistic picture for Pakistan’s economy, with key sectors poised for growth as the country navigates its recovery journey.
