Loans to non-government sector decrease by Rs 12.7 billion in a week

May 7, 2019 (MLN): The non-government sector has accumulated a total net debt of Rs. 894.8 billion during ongoing fiscal year (FY19) as of April 26, 2019, which is 37% higher than the net borrowed amount of Rs 652.6 billion in the same period last year, reports the State Bank of Pakistan’s weekly data on monetary aggregates.

Compared to last week, the net figure has decreased by Rs.12.7 billion (1%) as it was last recorded at Rs.907.5 billion.

Net private sector credit off- take during the period under review reached to Rs 580.9 billion, up by 17% compared to corresponding period last year, indicating a positive development for the economy.

The conventional and Islamic banks’ credit to the private sector increased to Rs402.6 billion and Rs77 billion during the said period respectively, as compared with Rs.340.8 billion and Rs 52.5 billion credit values recorded in the corresponding period last year, showing an increase of 18% and 47% respectively.

However, private sector’s advances from Islamic banking branches of conventional banks decreased by 4% to Rs 101.1 billion.

Moreover, Credit to Public Sectors Enterprises (PSEs) reached to Rs 312.1 billion against Rs 153.1 billion in last year, reflecting a growth of 104% whereas, credit to NBFIs for the said period recorded at Rs 1.8 billion.

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