This has helped serve the economy well in a number of ways. It has fuelled economic activity, revived and enhanced industrial capacities, met crop and non-crop requirements and has supported steady growth in services sector whose contribution to GDP has grown to 52.3%.
Presently, the corporate sector accounts for almost half of the total credit outstanding, credit to agriculture sector now accounts for 6.4%, SME-financing accounts for 16.1%, and consumer financing accounts for 14.3% of the total credit outstanding. To enhance the reach of the banking system and serve the society’s credit requirements, SBP encouraged systematic development of microfinance sector as well as Islamic financial institutions.