November 20, 2018 (MLN): Loans issued to private sector businesses during the month of October 2018, are shown to have increased by a margin of merely 1% over the month, but when compared on a year-on-year basis, the increment is marked at a noticeable 20.7%.
Official data released by the State Bank of Pakistan (SBP) shows that following the predominant trend, out of the total Rs.4, 801 billion lent to private sector businesses, the biggest chunk was issued to the manufacturing industry, which took around Rs.2, 832 billion.
Compared to September 2018, the increment in this amount is negligible, but in a year-on-year scenario, the amount lent to the manufacturing sector has increased by over 20%.
Within the sector, the textile industry was lent the maximum amount during the month, that of Rs.952 billion, given the prominence of the industry within Pakistan. The credited amount has risen by over 12% over the month, given an enlarged demand for textile products all over the World. Textile exports inched up by 10% as compared to September 2018, in light of the approaching winter season.
Following next in line, in terms of highest loan recipients, the food industry borrowed a sum of Rs.685 billion.
Apart from these, other borrowers include industries such as Agriculture, hunting and forestry (Rs.309 billion), Electricity, gas and water supply (Rs.447.4 billion) and, Commerce and Trade (Rs.390 billion)
