On August 7, the State Bank of Pakistan mopped up Rs27.91 billion from the sale of market treasury bills of 6 months maturity. Bids for 3 months and 12 months were rejected by the SBP. The cut off yield for 6 months treasury bills was 6.4373 percent per annum.

According to the Weekly Statement of Position of Scheduled Banks for the week ended July 27,2002, the sum of demand and time liabilities rose further in the week under review, mainly because of a substantial rise in demand liabilities, though time liabilities also increased.

The sum total stood at Rs1,497,749 million, showing a rise of Rs14,857 million over preceding week’s figure of Rs1,482,892 million. As compared to the total deposits of Rs1,293,773 million in the corresponding period last year, the current week’s deposits were higher by Rs203,976 million.

During the week under review, demand deposits rose by Rs9,894 million to Rs664,138 million over previous week’s Rs654,244 million.

It was higher against last year’s corresponding figure of Rs566,896 million by Rs97,242 million.

Meanwhile, time liabilities rose by Rs4,963 million to Rs833,611 million against preceding week’s Rs828,648 million. Compared to last year’s corresponding figure of Rs726,877 million, the current week’s figure is higher by Rs106,734 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities declined in the current week.

At Rs135,100 million it was lower by Rs353 million over preceding week’s Rs135,453 million. Compared to last year’s corresponding figure of Rs137,304 million, the current week’s figure is lower by Rs2,204 million.

Scheduled banks borrowings from banks abroad stood at Rs14,568 million in the current week, as against Rs14,192 million a week ago, showing an increase of Rs376 million.

It was however, lower by Rs669 million over last year’s corresponding figure of Rs15,237 million.

Money at call and short notice in Pakistan increased in the week under review. It stood at Rs36,829 million, showing an increase of Rs1,058 million over preceding week’s Rs35,771 million. When compared to last year’s corresponding figure of Rs31,036 million, the current week’s figure is higher by Rs5,793 million.

Scheduled banks advances including bills purchased and discounted, showed a further fall in the week under review. At Rs948,514 million it was lower by Rs5,093 million over preceding week’s figure of Rs953,607 million.

Compared to the corresponding figure a year ago, when advances were to the tune of Rs932,118 million, the current week’s advances are higher by Rs16,396 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities showed a rise in the week under review. Such investments amounted to Rs536,300 million, showing an increase of Rs31,820 million over previous week’s Rs504,480 million. Compared to last year’s corresponding figure of Rs321,781 million, the current week’s investment is higher by Rs214,519 million.

Total assets of scheduled banks increased in the week under review. These stood at Rs2,350,622 million against previous week’s Rs2,311,476 million, showing a rise of Rs39,146 million.

Compared to last year’s corresponding figure of Rs1,971,956 million, the current week’s figure shows a rise of Rs378,666 million.