Private sector credit rises by Rs151bn in a week

By MG News | December 11, 2024 at 02:38 PM GMT+05:00

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December 11, 2024 (MLN): Private sector credit (PSC) rose Rs151.28 billion WoW to Rs10.68 trillion as of November 29, 2024, data released by State Bank of Pakistan (SBP) showed.

That takes the cumulative flow in the current fiscal year (5MFY25) Rs1.15tr.

Comparatively, credit disbursed as loans to the private sector has surged substantially, as loans amounted to Rs364.21bn in the last fiscal year (FY24).

Private sector credit as a percentage of Gross Domestic Product (GDP) stood at 10.1% compared to 10% a week before and 9% 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 explain the increase in PSC.

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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