Sunday, April 21, 2024

Pakistani Construction Industry Impresses With 75% Growth In FY21

Housing and construction finance in FY21 increased by Rs111 billion, or 75%, from FY20 to Rs259 billion, according to the State Bank of Pakistan.

SBP Governor Dr Reza Baqir gave the information during a meeting of Prime Minister Imran Khan’s National Coordination Committee on Housing, Construction, and Development (NCCHCD).

“About 97 percent of the whole objective set by State Bank for June 30, 2021 was met,” an SBP official said, adding that a growth in housing and construction finance of this magnitude in a single year is unique in Pakistani history.

The prime minister, however, underlined that banks’ portfolios must demonstrate robust growth in loan disbursements in the coming days, according to the SBP.

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