Political commitment, build up of public acceptance, well conceived Privatization Law and guidelines and a fairly well equipped Privatization Commission of Pakistan (PC) (established on January 22, 1991) have together contributed to implementation of privatization program in a fairly transparent manner. Today most manufacturing sector and 80% of banking assets are in private hands.
While the income of households with deposits is lower, the household sector as a whole has around twice as much debt as deposits. Hence the cash flow boost from lower mortgage payments outweighs that of https://www.rba.gov.au/speeches/2019/sp-dg-2019-08-15.html  7/10  8/15/2019  Risks to the Outlook | Speeches | RBA  lower deposit rates.