business

March 28, 2021

Private sector borrowing up by 43.1pc in eight months

KARACHI: Private sector borrowing from banks jumped 43.1 percent to Rs357.2 billion in more than eight months of the current fiscal year due to lower interest rates together with mark-up subsidy to lockdown-affected businesses, the central bank’s data showed.Banks disbursed Rs249.6 billion to the private businesses in the corresponding period a year earlier, according to the latest State Bank of Pakistan’s data. The SBP slashed interest rate by 625 basis points to 7 percent last year to...