SBP releases second quarterly report on state of economy Jun 3, 2021 KARACHI: The State Bank of Pakistan (SBP) released on Thursday its second quarterly report on the state of Pakistan’s economy for the fiscal year 2020-21. The report highlighted the strengthening of the economic recovery during the second quarter of the fiscal year, which, it said, was evident from the growing pace of industrial activity, promising output of major Kharif crops (with the exception of cotton), and a pick-up in the services sector during the review period. The large-scale manufacturing (LSM) grew by 7.6 percent during H1-FY21, with its growth in the second quarter accelerating to 10.4 percent, the highest quarterly LSM growth since Q4-FY07, the report said.