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capacity to diversify exports and create higher-quality, well-paid jobs.

“Ideally, manufacturing should be the engine that absorbs labour from agriculture and drives productivity,” said Iqbal. “But what we are seeing is that services are expanding faster, without industry growing at the pace it should.”

The census also identifies financing challenges for businesses.

According to it, nearly 86 percent of economic units face capital shortages, making access to finance the most pressing constraint.

About a third of businesses reported difficulties obtaining loans. Other common concerns include infrastructure gaps, rising production costs, and shortages of skilled labour.

Around 8 percent of businesses struggle with consistent electricity and fuel supply, while smaller shares reported issues with marketing and access to raw materials.