Finance: Challenges to industrial growth

During the last quarter of this fiscal year, beginning April 1, Pakistan’s industrial sector may see a stronger policy push for growth as the current regime is working on an industrial revival plan. Two things are to be considered: first, the potential revival plan’s implementation will remain subject to the continuation of the tenous political stability, the extent of success in the anti-terrorism campaign and the International Monetary Fund’s approval for support for industries. Second, even if all goes well, the industrial sector, particularly large-scale manufacturing (LSM), will respond to the policy push with a considerable time lag, and exports, too, will take time to capitalise on it.