Private sector borrowing surges by 80%
KARACHI: Bank lending to the private sector has increased by 80% in the first 8 months of FY21, signaling a surge in economic activities throughout the country.
The State Bank of Pakistan (SBP) reported that Rs 352 billion were borrowed by the private sector in the first 8 months of the current fiscal year.
As per the details released by the SBP, borrowing remained stunted in the first quarter of FY21 due to the COVID-19 pandemic but picked pace in the second quarter of FY21.
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