Economic development of Sindh, Punjab is because of KP, Balochistan

ISLAMABAD: The country’s two economically backward provinces of Khyber Pakhtunkhwa and Balochistan are providing funding for economic activities in the two economically better provinces of Sindh and Punjab.

Statistics presented by the SBP at a meeting of the Senate Standing Committee on Finance yesterday (Tuesday) revealed that according to central bank data, Rs 123.5 billion was deposited in banks from Khyber Pakhtunkhwa till December 2019, while Rs 48.6 billion (39 percent) was disbursed in KP.

Similarly, Rs 51.8 billion was deposited in banks in Balochistan while loans amounting to Rs 17.3 billion (33%) were issued in the province. KP accounted for more than 4% of the total deposits and Balochistan 1.7%.

According to the central bank, Rs 10.34 trillion was deposited in banks in Punjab but here banks issued loans of Rs 24 trillion.