Private banks refuse to give more loans to PTI government

ISLAMABAD: The private banks have refused to give more loan to Pakistan Tehreek-e-Insaf (PTI) government, Geo News reported.

A consortium of private banks refused to give more loans, saying they have already provided a massive loan of nearly Rs600 billion.

The PTI government had asked for a loan of Rs50 billion from private commercial banks to pay off the circular debt of power sector.

Over the refusal of the private banks, the finance ministry made final request for loan, saying the government will not ask anymore in future without paying off the previous amount.

Over this recommendation, the officials of private banks will meet next week to deliberate on government request.