Private sector credit falls by Rs433bn in a week

MG News | February 03, 2025 at 09:09 PM GMT+05:00

0:00

February 03, 2025 (MLN): Private sector credit (PSC) dropped by Rs432.84 billion WoW to Rs9.83 trillion as of January 24, 2025, data released by State Bank of Pakistan (SBP) showed.

That takes the cumulative flow in the current fiscal year to Rs965.56bn.

Private sector credit as a percentage of Gross Domestic Product (GDP) stood at 9.3% compared to 9.7% a week before and 8.4% on June 2024.

After remaining depressed until the third quarter of FY24, credit demand picked up from the fourth quarter onwards.

A moderate expansion in economic activity, alongside persistent cost pressures in some industries, mainly explains the increase in PSC.

An increase in agricultural production and an uptick in LSM output, which is expected to gain further momentum in the coming months, has led industries to increase borrowing from the banking sector.

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