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       ISLAMABAD: Habib Bank Ltd (HBL) and global financial information and analytics firm S&P Global have launched Purchasing Managers’ Index (PMI) to track the country’s manufacturing sector, the companies said on Friday.

       Rising taxes and power tariffs have led to social unrest and hammered industries in Pakistan’s $350 billion economy, as it navigates a tricky path to recovery under a $7bn International Monetary Fund’s programme approved in September.

       It will be Pakistan’s first comprehensive manufacturing index and a welcome source of information for investors in a country where economic data is scarce.

       “The launch of Pakistan’s first ever PMI is a significant event contributing to the accessibility of timely and high-frequency data to track economic developments in Pakistan and support decision-making by financial institutions, investors and businesses,” said Luke Thompson, Managing Director of S&P Global Market Intelligence in a statement.

       Published in Dawn, February 15th, 2025