Islamabad: Large Scale Manufacturing (LSM) is expected to recover in 2024-25 with a growth of 4.4 percent on the back of 3.5 percent.
“The industrial sector is expected to be boosted by increased income and energy supply due to expected lower oil and commodity prices, further easing of import restrictions, higher public sector spending, exchange rate stability and lower interest rates,” said the plan for 2024-25. .
According to the plan, due to this factor, the cost of construction materials is expected to decrease, which will help the construction industry achieve the growth target of 5.5 percent in 2024-25.
Meanwhile, the service sector is also expected to grow by 4.1 percent, and the goods-producing sector is expected to grow by 3.1 percent, said the complementary growth target in the service sector.
Increasing economic activity in the industry, especially the manufacturing sector, will translate into better growth in wholesale and retail trade and transport, storage and communication.
According to the annual plan, the gross investment-to-GDP ratio is expected to increase from 13.1 percent in 2023-24 to 14.2 percent in 2024-25 due to expected economic growth, improved business environment and political stability.
Fixed investment is expected to grow by 27.6 percent on a nominal basis, as a percentage of GDP, from 11.4 percent in 2023-24 to 12.5 percent in 2024-25.
National savings are targeted at 13.3 percent of GDP by 2024-25, according to the plan.
Norway continues to welcome Chinese new energy vehicles
