Islamabad:
The government’s borrowing from the domestic banks rose to RS35 trillion by 2024, which led to fierce profits of RS600 billion for the business banks mainly due to high interest rates, the sources said Wednesday.
The Ministry of Finance said business banks earned more than RS600 billion in profits for the first time in 2024 due to the government borrowing from private banks at a high interest rate.
They added that the loans from local business banks topped RS35 trillion compared to RS25.2 trillion external debt.
