Officials said on Tuesday that the State Bank of Pakistan has allocated fresh currency notes totaling 27 billion rupees to commercial banks nationwide in anticipation of Ramadan.

The central bank has distributed new banknotes to some 17,000 commercial bank branches across the country, guaranteeing ample availability during the holy month when demand for money typically rises.

The State Bank has provided explicit directives to banking institutions concerning efforts to enhance public access to the new notes. Commercial banks have been instructed to efficiently deploy their ATM networks to disseminate high-quality, pristine cash notes during Ramadan.

The State Bank has established specialized cash monitoring teams to police compliance and facilitate effective distribution at multiple bank locations. These teams will ensure that banks adhere to the established rules for currency distribution.

The program seeks to mitigate the seasonal surge in demand for fresh currency notes, especially prior to Eid celebrations, when the tradition of gift-giving using new notes is prevalent in Pakistan.

The Large Scale Manufacturing Industries (LSMI) in the country had a decline of 1.78 percent during the initial seven months (July-January) of the current fiscal year (2024-25) compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).

In January 2025, the LSM had a year-on-year decline of 1.22 percent compared to the same month in the previous year. In January 2024, LSM output rose by 2.09 percent month-on-month compared to December 2023.

The provisional quantum estimates for Large Scale Manufacturing Industries (LSMI) for November 2024, using the base year 2015-16, have been formulated based on the most recent data provided by the source agencies.

The primary factors contributing to the overall negative growth of -1.78% include food (-0.47), tobacco (0.25), textiles (0.34), garments (1.55), petroleum products (0.17), automobiles (0.74), cement (-0.46), iron and steel products (-0.57), electrical equipment (-0.55), machinery and equipment (-0.14), and furniture (-2.16).

Production from July to January 2024-25, in comparison to July to January 2023-24, has risen in tobacco, textiles, wearing apparel, automobiles, and other transport equipment, while it has declined in food, chemical products, non-metallic mineral products, iron and steel products, electrical equipment, machinery and equipment, and furniture.

With the major index surpassing 116,000 points, the Pakistan Stock Exchange (PSX) started the day on a high note.

In the hope of a positive conclusion from the current discussions regarding the loan tranche with the International Monetary Fund (IMF), the rising trend has continued in recent days.

The PSX surged 1,000 points, peaking at 116,626 in the early hours of the week’s opening day.

Later, the index gained 663 points and finished at 116,199.

The KSE-100 Index gained 441 points on Friday, closing at 115,536.

The PSX recently gained momentum on Thursday after experiencing ups and downs, with the major index exceeding 115,000 points.

The KSE 100-Index closed at 115,094.23 points after gaining 1,009.70 points, or 0.89 percent. 115,247.39 was the intraday high, and 14,429.93 was the lowest.

According to experts, one important factor is Moody’s Ratings’ upgrade of Pakistani banks. Investor confidence was further bolstered by the expectation of fruitful negotiations with the International Monetary Fund (IMF).

“We have changed our outlook on Pakistan’s banking system to positive from stable to reflect the banks’ resilient financial performance as well as improving macroeconomic conditions from very weak levels a year ago,” Moody’s said in its assessment last week.

Amidst the ongoing negotiations with the International Monetary Fund (IMF) regarding a loan tranche, the Pakistan Stock Exchange (PSX) has resumed its upward trajectory in recent days.