Private sector retires Rs.119 billion in last two weeks

July 23, 2019 (MLN): Pakistan's non-government sector has retired a net sum of Rs.123 billion in the first two weeks of Fiscal year 2020, of which Rs.52.14 billion were retired during the week ended July 12, 2019 and Rs.70.9 billion were retired in the first week.

According to weekly data released by the State Bank of Pakistan, the sector's borrowing has dropped by Rs.69.65 billion over the year since the borrowing as of the corresponding period of last year was recorded at Rs.53.4 billion.

The non-government sector is divided into three broad categories namely, the Private Sector, the Public Sector Enterprises and NBFI.

Comprised of three main sources of borrowing, the private sector has retired a net sum of Rs.119.2 billion this fiscal year, whereas the PSE's have retired Rs.3.76 billion and NBFI has retired Rs.81.47 million.

Digging into the finances between private sector and its lender, we see that Conventional Banks were retired a cumulative sum of Rs.129.03 billion, while Islamic Banks lent Rs.6.04 billion and the Islamic branches of Conventional Banks which lent Rs.3.79 billion.

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