This is apropos a Business Recorder news item "Q4CY16: Advances to private sector reach Rs410bn" carried by the newspaper on Saturday. According to it, with low interest rate and better economic conditions, advances to private sector posted a historical growth, reaching Rs 410 billion in the last quarter of CY16, said the State Bank of Pakistan in its Quarterly Performance Review (QPR) of the Banking Sector for the quarter ended 31st December, 2016 (Q4CY16).
"In terms of the QPR, the key highlight is the highest quarterly growth in advances to private sector in the last 10 years, which has contributed to most of the increase in assets.," the report, according to the newspaper, added.
This development is highly important in the context of country's overall economic growth. It clearly shows that private sector has received a fair amount of loans to meet its requirements. The resilience shown by Large-Scale Manufacturing (LSM) is a clear manifestation of businesspeople's relatively easy access to money. The private sector is therefore required to make timely repayments; it must not contribute towards rising incidence of NPLs.
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