Borrowing by private sector dips 68 pc.

Apparently most of the industries and businesses have little faith in the government's tall claims of improvement in the national economy as they keep avoiding new investment projects in anticipation of a visible positive change in the country.

Businesses operating in the private sector borrowed only Rs 175.23 billion in first seven months (Jul-Jan) of the current fiscal year, which was 68.25 percent down compared to Rs 552.01 billion borrowed in the same period of previous fiscal year, the State Bank of Pakistan (SBP) reported on Thursday.

"The prevailing high interest rate has discouraged...