SBP releases second quarterly report on state of economy
Jun 3, 2021
KARACHI: The State Bank of Pakistan (SBP) released on Thursday its second quarterly report on the state of Pakistan’s economy for the fiscal year 2020-21.
The report highlighted the strengthening of the economic recovery during the second quarter of the fiscal year, which, it said, was evident from the growing pace of industrial activity, promising output of major Kharif crops (with the exception of cotton), and a pick-up in the services sector during the review period.
The large-scale manufacturing (LSM) grew by 7.6 percent during H1-FY21, with its growth in the second quarter accelerating to 10.4 percent, the highest quarterly LSM growth since Q4-FY07, the report said.
Pakistan eases restrictions for banks to invest in real estate
Itâs expected to increase construction of houses amid rising demand SAMAA | Bilal Hussain - Posted: Jun 3, 2021 | Last Updated: 4 hours ago SAMAA | Bilal Hussain Posted: Jun 3, 2021 | Last Updated: 4 hours ago
Laborers work on a building construction site in Karachi, Pakistan, Feb. 25, 2016. Photo: AFP
Working at a private company as a sanitary worker, Mukesh was excited to see the Naya Pakistan Housing Scheme that offers cheap loans for people with humble background who donât own a house. He made the efforts and found a house worth Rs3.7 million but the bank paperwork delayed things. When he again inquired about the house, its price had gone up to Rs4.2 million â over 13% increase within a few months.
Steel players expect growth for FY22 to be in the range of 6-10% dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
The State Bank of Pakistan has introduced a Tier 0 category for the state-backed low-cost housing scheme. To facilitate borrowers who fall under this tier, the SBP has added microfinance banks in.