business

February 3, 2019

Private sector loans rise to Rs530.40 billion in July-January

KARACHI: Bank lending to the private sector surged to Rs530.40 billion in seven months of 2018/19 fiscal year compared to a year earlier, the central bank’s data showed on Saturday, as companies borrowed to meet working capital needs amid higher input prices and currency depreciation.Banks extended Rs530.40 billion in loans to the corporate borrowers between July 1, 2018 and January 25, 2019, compared with Rs232.40 billion in the corresponding period of last year, according to the State Bank...