On September 3, yields on 3-month and 1 year bids rose to 1.37 per cent and 1.92 per cent respectively from 0.99 per cent and 1.39 per cent that prevailed earlier. On the day, the State Bank of Pakistan sold Rs19.80 billion worth of T-bills to drain out liquidity from the market.

According to the weekly statement of position of scheduled banks for the week ended August 23, 2003, the sum of demand and time liabilities continued to increase in the week under review. The sum total stood at Rs1,786,812 million against preceding week’s Rs1,779,076 million, showing a rise of Rs7,736 million. As compared to the total deposits of Rs1,512,356 million in the corresponding period last year, current week’s deposits were higher by Rs274,456 million.

During the week under review, both demand and time deposits rose. Demand deposits increased to Rs854,575 million, a rise of Rs2,603 million over previous week’s Rs851,972 million. It was also higher against last year’s corresponding figure of Rs669,531 million by Rs185,044 million.

In the current week, time deposits were higher over preceding week’s figure. At Rs932,237 million, it was larger by Rs5,133 million over previous week’s Rs927,104 million and by Rs89,412 million, over last year’s corresponding figure of Rs842,825 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities increased in the current week. At Rs130,855 million it was larger by Rs673 million over preceding week’s Rs130,182 million. Compared to last year’s corresponding figure of Rs125,930 million, the current week’s figure is higher by Rs4,925 million.

Scheduled banks borrowings from banks abroad stood at Rs19,988 million in the current week, as against Rs20,626 million a week ago, showing a fall of Rs638 million. It was larger by Rs5,057 million over last year’s corresponding figure of Rs14,931 million.

Money at call and short notice in Pakistan decreased in the week under review. It stood at Rs22,441 million, a fall of Rs1,569 million over preceding week’s Rs24,010 million. When compared to last year’s corresponding figure of Rs38,543 million, the current figure is lower by Rs16,102 million.

Scheduled banks advances including bills purchased and discounted decreased in the week under review. At Rs1,045,971 million it was smaller by Rs672 million over preceding week’s Rs1,046,643 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs935,842 million, the current week’s advances are higher by Rs110,129 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities increased in the current week when compared to preceding week’s level. Such investments amounted to Rs786,989 million, a rise of Rs3,282 million over previous week’s Rs783,707 million. Compared to last year’s corresponding figure of Rs558,488 million, the current week’s investment is higher by Rs228,501 million.

Total assets of scheduled banks increased in the week under review. These stood at Rs2,556,651 million against previous week’s Rs2,544,674 million, a rise of Rs11,977 million. Compared to last year’s corresponding figure of Rs2,373,727 million it shows a rise of Rs182,924 million.