Private Sector retires loans worth Rs.114.9 million in four weeks

August 02, 2019 (MLN): The non-government sector has retired another net sum of Rs.23.56 billion during the week ended July 26, 2019, which brings the cumulative net retirment for ongoing fiscal year FY2020 to Rs.114.35 billion. The net retirement as of prior week was recorded at Rs.90.8 billion.

According to weekly data released by the State Bank of Pakistan, the sector's retired amount has risen by Rs.90.47 billion over the year since the amount retired as of corresponding period of last year was recorded at Rs.23.88 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 retired a net sum of Rs.114.92 billion, whereas the PSE's have borrowed Rs.661.97 million and NBFI has retired Rs.98.27 million.

As we dissect the inflows and outflows within the private sector, we see that Conventional Banks were retired a cumulative sum of Rs.117.03 billion, Islamic Banks were retired a net of Rs.8.28 billion and lastly the Islamic branches of Conventional Banks lent Rs.10.4 billion.

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