SBP Governor Urges Banks to Boost Private Sector Credit for Growth

State Bank of Pakistan Governor Jameel Ahmad noted that commercial banks' lending to the private sector remains well below levels seen in peer economies, with the private sector credit-to-GDP ratio declining significantly over three decades. He called on banks to reorient their business models towards stronger retail deposit mobilization and greater private-sector financing to support Pakistan's next phase of sustainable economic growth. Ahmad highlighted the economy's resilience, with inflation near target and forex reserves exceeding goals, but stressed the need to reduce reliance on cash. This focus on domestic credit expansion and economic stability could support the Pakistani Rupee in the medium term, indirectly influencing local gold prices.

بحوالہ / Source: www.brecorder.com