Private Sector retires around Rs 23.1 billion during the week

June 29, 2020 (MLN): The non-government sector has retired a net sum of Rs.23.1 billion during the week ended June 19, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.277.92 billion. The net borrowing as of prior week was recorded at Rs.301.02 billion.

According to weekly data released by the State Bank of Pakistan, the sector's borrowing has dropped by Rs.657.6 billion over the year since the borrowing as of corresponding period of last year was recorded at Rs.935.52 billion.

The non government sector is divided into three broad categories namely, the Private Sector, the Public Sector Enterprises and NBFI. Commercial banks are the main source of financing for the private sector, incuding conventional banks, islamic banks and islamic branches of conventional banks.

This fiscal year, the private sector borrowed a net sum of Rs.165.27 billion, whereas the PSE's have borrowed Rs.110.41 billion and NBFI has borrowed Rs.2.24 billion.

As we disintegrate the inflows and outflows within the private sector, we see that Conventional Banks were retired a cumulative sum of Rs.4.45 billion, Islamic Banks lent Rs.33.82 billion and lastly the Islamic branches of Conventional Banks lent Rs.135.9 billion.

Copyright Mettis Link News