ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 7, 2002, both notes in circulation and those issued maintained rise in the week under review.
Notes in circulation stood at Rs528,052.705 million against earlier week’s figure of Rs513,969.107 million, showing a rise of Rs14,083.598 million. When compared to the corresponding week a year ago when it was Rs461,453.530 million, the current week’s figure is higher by Rs66,599.175 million.
Total notes issued also recorded a rise in the current week. At Rs528,226.129 million it was larger by Rs14,097.614 million over the figure of Rs514,128.515 million recorded a week earlier. In the corresponding week last year it amounted to Rs461,581.230 million, which shows current week’s figure to be higher by Rs66,644.899 million over last year’s figure.
Approved foreign exchange rose further in the week to Rs387,154.526 million, larger by Rs4,182.885 million over preceding week’s figure of Rs382,971.641 million recorded a week earlier. When compared to the corresponding week a year ago, when the figure was Rs134,369.519 million, the current week’s figure was higher by Rs252,785.007 million.
Balances held outside Pakistan in approved foreign exchange declined further in the week under review. It stood at Rs40,899.364 million over preceding week’s figure of Rs42,460.970 million, showing a fall of Rs1,561.606 million. Compared to last year’s corresponding figure of Rs62,537.372 million, the current week’s figure is lower by Rs21,638.008 million.
Loans and advances of scheduled banks to the three sectors — agricultural, industrial and export show a mixed picture in the week under review. The agricultural sector received Rs54,324.188 million, similar to preceding week’s figure. The current week’s figure is larger by Rs456.819 million over last year’s corresponding figure of Rs53,867.369 million.
There was an inflow of Rs3,186.562 million to the industrial sector during the week under review, depicting a decline of Rs97.384 million over previous week’s Rs3,283.946 million. When compared to last year’s corresponding figure of Rs3,859.948 million, the current week’s figure is lower by Rs673.386 million. The export sector received Rs45,644.580 million over previous week’s figure of Rs47,109.810 million, showing a fall of Rs1,465.23 million. Current week’s figure was lower by Rs3,216.53 million over last year’s corresponding figure of Rs48,861.110 million. According to the weekly statement of position of scheduled banks for the week ended December 7, 2002, the sum of demand and time liabilities declined in the week under review, as against a rising trend witnessed in the past few weeks. The sum total stood at Rs1,574,805 million against preceding week’s Rs1,578,973 million, showing a fall of Rs4,168 million. As compared to the total deposits of Rs1,337,393 million in the corresponding period last year, current week’s deposits were higher by Rs237,412 million.
During the week under review, demand deposits fell to Rs700,143 million, or by Rs7,528 million over previous week’s Rs707,671 million, but was higher against last year’s corresponding figure of Rs588,667 million by Rs111,476 million.
In the current week, time deposits were higher over the preceding week and also against the corresponding week last year. At Rs874,662 million, it was larger by Rs3,360 million over previous week’s Rs871,302 million, and by Rs125,936 million, over last year’s corresponding figure of Rs748,726 million.
Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs137,590 million it was larger by Rs1,531 million over preceding week’s Rs136,059 million. Compared to last year’s corresponding figure of Rs117,689 million, the current week’s figure is higher by Rs19,901 million.
Scheduled banks borrowings from banks abroad stood at Rs15,277 million in the current week, as against Rs15,379 million a week ago, showing a decline of Rs102 million. It was smaller by Rs92 million over last year’s corresponding figure of Rs15,369 million.
Money at call and short notice in Pakistan fell in the week under review. It stood at Rs32,256 million, a fall of Rs12,716 million over preceding week’s Rs44,972 million. When compared to last year’s corresponding figure of Rs50,243 million, the current figure is lower by Rs17,987 million.
Scheduled banks advances including bills purchased and discounted, rose in the week under review. At Rs985,760 million it was larger by Rs5,554 million over preceding week’s Rs980,206 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs959,407 million, the current week’s advances are higher by Rs26,353 million.
Scheduled banks investment in central government securities, Treasury bills and other approved securities, rose in the week under review. Such investments amounted to Rs606,770 million, a rise of Rs938 million over previous week’s Rs605,832 million. Compared to last year’s corresponding figure of Rs311,824 million, the current week’s investment is higher by Rs294,946 million.
Total assets of scheduled banks showed an increase in the week under review. These rose to Rs2,474,864 million against previous week’s Rs2,490,500 million, showing a rise of Rs15,636 million. Compared to last year’s corresponding figure of Rs2,075,830 million it shows a rise of Rs399,034 million.
