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 billioneconomy, as it navigates a tricky path torecoveryundera$7bnInternational 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 firstever 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.-Reuters