November 4, 2002	Monday	Sha’aban 28,1423

On October 30, the State Bank of Pakistan mopped up Rs37.434 billion through the auction of one year Treasury bills at a cut off yield of 6.9137 per cent. The Central Bank received offers worth Rs58.663 billion.

According to the weekly Statement of Position of scheduled banks for the week ended October 19, 2002, the sum of demand and time liabilities showed an upward movement in the week under review. The sum stood at Rs1,545,800 million, showing an increase of Rs11,052 million over preceding week’s figure of Rs1,534,748 million. As compared to the total deposits of Rs1,288,042 million in the corresponding period last year, the current week’s deposits were higher by Rs257,758 million.

During the week under review, demand deposits increased by Rs1,155 million to Rs669,344 million, over previous week’s figure of Rs668,189 million, and was also higher against last year’s corresponding figure of Rs560,120 million by Rs109,224 million.

In the week, time liabilities increased by Rs9,897 million to Rs876,456 million against preceding week’s Rs866,559 million. Compared to last year’s corresponding figure of Rs727,922 million, the current week’s figure is higher by Rs148,534 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs136,761 million it was higher by Rs5,043 million over preceding week’s Rs131,718 million. Compared to last year’s corresponding figure of Rs128,792 million, the current week’s figure is lower by Rs7,969 million.

Scheduled banks borrowings from banks abroad stood at Rs15,270 million in the current week, as against Rs15,104 million a week ago, showing a rise of Rs166 million. It was lower by Rs164 million over last year’s corresponding figure of Rs15,106 million.

Money at call and short notice in Pakistan decreased in the week under review. It stood at Rs41,714 million, showing a fall of Rs522 million over preceding week’s Rs42,236 million. When compared to last year’s corresponding figure of Rs48,186 million, the current week’s figure was also lower by Rs6,472 million.

Scheduled banks advances including bills purchased and discounted, picked up in the week under review. At Rs945,348 million it was larger by Rs5,040 million over preceding week’s figure of Rs940,308 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs932,706 million, the current week’s advances are higher by Rs12,642 million. Scheduled banks investment in central government securities, Treasury bills and other approved securities decreased in the week under review. Such investments amounted to Rs592,615 million, showing a fall of Rs3,206 million over previous week’s Rs595,821 million. Compared to last year’s corresponding figure of Rs303,185 million, the current week’s investment is however, substantially higher by Rs289,430 million.

Total assets of scheduled banks showed an increase in the week under review. These rose to Rs2,472,308 million against previous week’s Rs2,446,130 million, showing a rise of Rs26,178 million. Compared to last year’s corresponding figure of Rs1,995,331 million, it shows a rise of Rs476,977 million.