Private sector debt retirement rises to Rs364.5bn in early fiscal year
State Bank data shows Rs364.5bn retired between July 1 and September 11 against Rs170bn last year, according to Dawn.
Pakistan's private sector retired Rs364.5 billion in debt between July 1 and September 11, more than double the Rs170 billion retired in the same period last fiscal year, according to State Bank data reported by Dawn on Wednesday.
Dawn reported that the country has yet to emerge from an investment-averse environment. The first two and a half months of the fiscal year show the private sector still paying down old borrowings rather than taking new loans. In the same period a year earlier, total debt retirement stood at Rs170 billion.
The report said the previous fiscal year had followed a similar pattern in its first quarter, but conditions improved by the end of the year as total private sector credit recovered. The latest numbers cover the period from July 1 to September 11 and reflect business borrowing trends across the country.
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