Business May 28, 2021 KARACHI: Auto loans increased 36.4 percent year-on-year in April as low interest rates and signs of economic recovery pushed up the demand for vehicles from consumers. Loans for transport, such as purchase of cars stood at Rs293 billion in April, compared with Rs215 billion in the corresponding period of last year, the latest data from the State Bank of Pakistan (SBP) showed. Auto loans marginally rose 2.8 percent month-on-month. These loans stood at 285 billion in the previous month. Consumer financing is benefiting from a relatively accommodative policy environment. The SBP cut interest rates by 625 basis points to seven percent last year.