Pakistan ranked among the top-performing countries in global stock markets during the first half of the current fiscal year, according to the Ministry of Finance’s Economic Outlook report. The ministry said the stock market performance showed stability in key macroeconomic indicators. Overseas Pakistanis’ remittances were described as encouraging, contributing to an improved external account position.
The report stated that the rapid rise in inflation in Pakistan has been contained, while stability has returned to large-scale manufacturing. It attributed the country’s improving economic performance to a stable exchange rate and fiscal discipline, which have supported economic growth.
An increase in the primary surplus was also recorded, with the ministry expecting the trend to continue in the second half of the fiscal year.
According to the report, investment activity is picking up across the country. It added that economic governance has improved and private sector productivity is gaining momentum.
In the agriculture sector, the outlook recorded one percent growth during the current fiscal year. Imports of agricultural commodities declined from 13 percent to 0.7 percent, reflecting changes in domestic management.
The report highlighted mixed trends within agriculture. Cotton output fell by 1.2 percent, fodder production declined by 14.4 percent, and fertilizer production dropped by 13 percent. At the same time, livestock output increased by 6.3 percent, while forestry and fisheries recorded a 2.1 percent rise.
Bank lending from July to December reached Rs1,412 billion, compared to Rs1,267 billion during the same period last year, the report said.
Imports of agricultural machinery increased by 21.6 percent, while large-scale industrial growth rose by six percent. Overall, aggregate production improved from 1.3 percent to 1.8 percent on a year-on-year basis, according to the Ministry of Finance.