Privatesector borrowing up to Rs346.34bn: SBP

KARACHI: The non-government sector borrowed Rs55.11 billion during the week ended February 19, 2021, which brings the cumulative net borrowing for ongoing fiscal year FY2021 to Rs346.34 billion, said the State Bank of Pakistan (SBP) on Monday.
The net borrowing of the prior week was recorded at Rs291.23 billion. According to weekly data released by the central bank, the sector’s borrowing has risen by Rs159.18 billion over the year since the borrowing as of the corresponding period of last year was recorded at Rs187.16 billion.
The non-government sector is divided into three broad categories namely, the private sector, the public sector enterprises and non-banking finance institutions (NBFIs). Commercial banks are the main source of financing for the private sector, including conventional banks, Islamic banks and Islamic branches of conventional banks.
This fiscal year, the private sector borrowed a net sum of Rs351.88 billion, whereas the PSE’s have retired Rs10.44 billion and NBFI have borrowed Rs4.9 billion.
“As we disintegrate the inflows and outflows within the private sector, we see that conventional banks lent a cumulative sum of Rs194.66 billion, Islamic Banks lent Rs61.99 billion and lastly the Islamic branches of conventional banks lent Rs95.24 billion,” said the central bank. – TLTP