HBL, S&P Global Launch Pakistan’s First Manufacturing PMI

Pakistan’s largest bank, HBL, and global financial analytics firm S&P Global have introduced a new index to monitor the country’s manufacturing sector, the companies announced on Friday. Amid efforts to recover under a $7 billion International Monetary Fund program approved in September, rising taxes and power tariffs have fueled social unrest and severely impacted industries in Pakistan’s $350 billion economy.

The HBL S&P Global Purchasing Managers’ Index will be Pakistan’s first comprehensive manufacturing index, offering standardized economic insights based on industry surveys. It aims to provide valuable data for investors in a market with limited economic information.

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.

Muhammad Nassir Salim, President & CEO of HBL said the series will enhance investor confidence and transparency in Pakistan’s economy.