Private sector gets record loans for modern machinery’s imports: Farrukh

Private sector got record loans for modern machinery’s imports during 2021, claims Farrukh

Web Desk

24th Jan, 2022. 12:07 am
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Minister of State for Information and Broadcasting Farrukh Habib on Sunday said the private sector got record loans under both the Temporary Economic Refinance Facility (TERF) and Long Term Financing Facility (LTFF) schemes of State Bank of Pakistan (SBP) during 2021.

“This is reflected in imports of modern machinery,” he said in a tweet along with a data chart showing highest ever purchase of machinery from abroad by private sector in the last one year.

The statistics showed the machinery imports during the last one decade.

Farrukh also lashed out at both the Pakistan Peoples Party and Pakistan Muslim League-Nawaz for ignoring private sector during their tenures.

Both the parties used to cover their losses during their tenures by ensuring massive print of rupee from the SBP, he said, adding there was nothing left for private sector to make investment.