Pakistan Industries News / Updates

LSM hits the stride

May 7, 2026
By BR Research

Large-Scale Manufacturing delivered a strong March close, with year-on-year growth accelerating to 11.09 percent, the highest in 45 months. The latest reading reinforces the sense that the sector has moved beyond a tentative recovery phase into a more established expansion.

Cumulative growth for 9MFY26 now stands at 6.48 percent, broadly in line with full-year expectations, and marks the first time since FY22 that nine-month LSM readings are firmly in positive territory.


The index dynamics are equally telling. March recorded the second highest monthly index level on record, while the July to March cumulative index is also the second best ever, both trailing only FY22.

The comparison, however, highlights the scale of the earlier peak. The gap with FY22 remains wide at roughly 28 points, making any catch-up mathematically improbable.
 
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Its now that we are discussing (for half a decade) to upgrade our refineries and even announce the possibility to construct a deep conversion refinery @ Hub.
With a population that is the 5th biggest in the world, and 1 to 3 days ferry distance away from GCC consumers, over the last 70 years, we still do not have the industries that can serve in house and export to the GCC and beyond.
No refrigerant gases, no crockery, no appliances, no cars, no tyres industry and no light and fixtures are being manufactured or at least assembled with a sizable local input in Pakistan. They are in huge demand and consumed at large. Our fan and related industry has disappeared and so have others.
We are stuck with fertiliser, cement, cotton and fabric related industries with no to little vision or growth in other fields. Best part is, since the leaders are from landlords or industrialists of the few industries that exist are least affected hence 1+1 is always zero. This leads to the biggest export of Pakistan, our best mind and brains.
P.S.
my apologies for the rant. Everytime I open the economic and industries threads, it just boils me to the core
 

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