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Strict policies shrink private sector bank loans

10
Mar '07
Textile industry is struggling to remain competitive in the global market, for almost a year, now.

During the last eight months, exports particularly of textiles, decline significantly, mainly due to drop in synthetic textile production.

Slowing down of textile production affects the overall growth as it has more than 63 percent share in the export income.

It is believed that due to strict monetary policies industry players are reluctant to procure bank loans.

Statistics show that in first eight months of the current fiscal, credit volume to private sector reduced to Rs227.11 billion, representing 26.9 percent decline against Rs310.65 billion in same period of the previous year.

The target for this fiscal was to lend private sector about Rs390 billion of which, it has only consumed 58.23 percent.

Meanwhile, credit to public sectors enterprises (PSEs) during the period also recorded considerable fall.


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