The private sector’s loan from the banking sector surged by almost 189 percent or Rs. 859 billion to Rs. 1,313 billion from Rs. 454 billion during the first 10 months (July-April) of the current fiscal year.
According to a report compiled by the State Bank of Pakistan (SBP), the borrowing by the private sector from conventional banking branches was increased by Rs. 615 billion to Rs. 830.5 billion from Rs. 215 billion during the period. After this debt, the total debt stock of the conventional banking branches for the private sector reached Rs. 6,515 billion by end of April 2022.
The private sector loan from the Islamic banking sector surged by Rs. 96 billion to Rs. 199.3 billion from Rs. 103.7 billion. After the new borrowing from Islamic Banking, the debt stock from this banking sector swelled to Rs. 1,229 billion by 30 April 2022.
The loan from the Islamic Banking Branches of Conventional Banks reached Rs. 283 billion from Rs. 135 billion during the ten months of the current fiscal year as compared to the same period of the last fiscal year. The total debt stock of the Islamic Banking Branches of Conventional Banks for the private sector has been increased to Rs. 1,196 billion so far.
The loss-making Public-Sector Enterprises (PSEs) from the banking sector borrowed Rs. 14.56 billion to run their business during the 10 months of the current fiscal year. They had retired Rs. 26.64 billion loans during the same period of the last fiscal year and the total debt stock of the PSEs surged to Rs. 1451 billion due to new credit of the current fiscal year.