Credit To Private Sector Observed Growth
Credit To Private Sector Observed Growth: The Credit to Private Sector (CPS) witnessed expansion of 9.03 percent during the first eight months of the current fiscal year as against the corresponding period of last year.
The credit to private sector has seen expansion of Rs 469.2 billion during July-March (2017-18), compared to the expansion of Rs 438.6 billion in the comparable period of last year, posting average growth of 9.03 percent during the period under review compared to 9.9 percent last year.
On year-on-year (YOY) basis, the CPS observed growth of 15.9 percent compared to 13.4 percent witnessed in the same period last year.
The overall credit during July-February grew by 8.2 percent against 8.9 percent of the comparable period of last year, officials sources said here.
Sector wise growth demonstrates that loans to private sector business witnessed growth of 8.7 percent during Jul-Feb, FY2018 against 9.0 percent in same period of last year.
The Credit to Private Sector Businesses (PSBs), which availed major share of PSC, reached Rs 344.8 billion during Jul-Feb, FY2018 as compared to Rs 301.0 billion in the corresponding period of FY2017, the sources added.
The expansion in PSBs during FY2018 mainly came from all major sectors such as: Electricity, Gas and Water supply grew by (16.0 percent), Commerce & Trade (10.8 percent), Mining and Quarrying (10.2 percent), Manufacturing (9.0 percent) of which Textile (17.8 percent) and Transport, Storage & Communications (6.2 percent).
The broad based expansion in private sector loans during Jul-Feb FY2018 primarily in Manufacturing sector received a share 59.8 percent (Rs 206.3 billion), followed by textile (35.8 percent or Rs 123.5 billion), Electricity, Gas and Water supply (16.9 percent or Rs 58.4 billion), Commerce and Trade (9.6 percent or Rs 33.2 billion), and Transport, Storage & Communications (3.8 percent or Rs13.0 billion).
By type of finance, total loans to private sector businesses increased to Rs 344.8 billion during Jul-Feb FY2018 as compared to Rs301.0 billion in the same period last year.
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