THE expansion in private-sector credit during the last fiscal year is an encouraging sign for our economy. More than eighty per cent of the increase was directed towards business financing, with manufacturing, wholesale and retail trade and agriculture accounting for nearly 89 per cent of the additional credit. The banking sector also has a vital role to play by broadening credit outreach, developing innovative financial products and supporting new and export-oriented businesses. A vibrant private sector remains the most durable engine of sustainable economic growth. The latest surge in private-sector credit is welcome development but the challenge now is to build on this momentum through consistent policies and reforms that transform growing business confidence into lasting and inclusive economic prosperity.