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Private Sector s Credit Growth Slows Down Despite SBP Efforts

Private Sector s Credit Growth Slows Down Despite SBP Efforts
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Rozgar schemeTemporary economic refinance facilityRefinance facilityரோஸ்கர் திட்டம்தற்காலிகமானது பொருளாதார மறுநிதியளிப்பு வசதிமறுநிதியளிப்பு வசதி

Private sector retires Rs14 97bln in over 5 months

Business December 16, 2020 KARACHI: Private sector paid off Rs14.979 billion to banks in over five months of this fiscal year as businesses with ample liquidity on hand, owing to pandemic-led contraction, opted to ease the debt burden and hold off new borrowing, latest numbers showed on Tuesday. According to State Bank of Pakistan (SBP), corporate entities retired this amount during July 1, 2020 to December 4, 2020, while the loan amount cleared in the same period of the last fiscal year was Rs79.22 billion. The credit offtake usually gains momentum in the second quarter of each year. However, the corporations still look unwilling to make fresh investments, despite a desirable policy rate in place. This trend indicates the businesses remain uncertain about the economic recovery prospects of the country due to the second wave of the virus.

State bankTemporary economic refinance facilityRefinance facilityநிலை வங்கிதற்காலிகமானது பொருளாதார மறுநிதியளிப்பு வசதிமறுநிதியளிப்பு வசதி

Exports recover to pre-Covid levels | The Express Tribune

Exports recover to pre-Covid levels SBP governor says Pakistan needs to focus on competitiveness, import reduction PM Task Force on IT member Parvez Iftikhar pointed out that Covid-19 had shown that internet of high speed and large ca-pacity was a must to keep wheels of economy, healthcare, education and other sectors moving. PHOTO: FILE ISLAMABAD: Exports have recovered to pre-Covid monthly levels of around $2 billion with the strongest recovery in textile, rice, cement, chemical and pharmaceutical sectors, said State Bank of Pakistan (SBP) Governor Reza Baqir. Speaking at a session titled “Pakistan’s Economic Response to Covid-19 and Way Forward for an Inclusive Economic Recovery” on Tuesday, Baqir said Pakistan needed to focus on competitiveness and reduce imports even further to support local businesses.

Aamer irshadParvez iftikharReza baqirRashid mehmoodSartaj azizPauline oosterhoffWouter plompAgriculture organisationInternational monetary fundEuropean union ambassador to pakistan androulla kaminaraSustainable development conferenceResearch additionalInstitute of developmentRyerson university senior lecturer of politicsMinistry of national food securityPm task