Growth in credit to private sector has slumped to a new low in the New Year reinforcing concerns over the rebound in the economy and prevalent interest rate regime.
As per latest data from the Central Bank, credit to private sector in January had grown by only 15.5%, further down from 17.6% in December and by over half of 37% rise witnessed a year earlier.
Cumulative credit to private sector as at January 2013, amounted to Rs. 2.368 trillion, up by Rs. 10 billion from end December 2012 figure of Rs. 2.358 trillion.