Government borrowing from banks increases sharply

KARACHI: The outstanding position of the government borrowing from banks increased sharply by 92.7 percent to Rs2.43 trillion by November against Rs1.26 trillion in the corresponding month last year, according to the provisional data released by the State Bank of Pakistan (SBP) on Wednesday.

Investment of Commercial banks in the government securities stood at Rs2.64 trillion against Rs1.412 trillion during the period under review, it said. The total government borrowing stood at Rs3.685 trillion by the end of November against Rs2.72 trillion in the corresponding month last year.

The outstanding position of the government borrowing from the SBP, however, declined to Rs1.254 trillion from the previous figures of Rs1.463 trillion, it said. The outstanding credit to the private sector by commercial banks was marginally up at Rs2.918 trillion against Rs2.82 trillion.

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