According to the State Bank's Statement of Affairs, for the week ending January 10, 2004, both notes in circulation and issued increased in the week under review.

Notes in circulation stood at Rs609,826.216 million against the earlier week's figure of Rs595,802.100 million, showing a rise of Rs14,024.116 million. When compared to the corresponding week a year ago when it was Rs522,634.242 million, the current week's figure is higher by Rs87,191.974 million.

Total notes issued also recorded an increase in the current week over the preceding week's level. At Rs609,971.674 million it was larger by Rs14,005.157 million over the figure of Rs595,966.517 million recorded a week earlier. In the corresponding week last year it amounted to Rs522,770.277 million, which shows current week's figure to be higher by Rs87,201.397 million over last year's corresponding figure.

Approved foreign exchange decreased further in the week, falling to Rs511,950.056 million or by Rs2,010.388 million over preceding week's figure of Rs513,960.444 million. When compared to the corresponding week a year ago, when the figure was Rs431,429.829 million, the current week's figure was higher by Rs80,520.227 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs107,383.679 million over preceding week's figure of Rs104,952.314 million, showing an increase of Rs2,431.365 million. Compared to last year's corresponding figure of Rs55,330.093 million, the current week's figure is substantially higher by Rs52,053.586 million.

Loans and advances of scheduled banks to the three sectors - agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs55,353.139 million, same as preceding week's figure. The current week's figure is larger by Rs1,340.515 million over last year's corresponding figure of Rs54,012.624 million.

There was an inflow of Rs2,542.233 million to the industrial sector during the week under review, depicting a decline of Rs8.237 million over previous week's Rs2,550.470 million. When compared to last year's corresponding figure of Rs3,005.377 million, the current week's figure is lower by Rs463.144 million.

The export sector received Rs77,216.020 million against previous week's figure of Rs77,244.551 million, showing a fall of Rs28.531 million. Current week's figure was larger by Rs30,272.158 million over last year's corresponding figure of Rs46,943.862 million.

According to the weekly statement of position of scheduled banks for the week ended January 3, 2004, the sum of demand and time liabilities further increased in the week under review as both type of deposits rose. The sum total stood at Rs1,883,430 million against preceding week's Rs1,866,439 million, showing a rise of Rs16,991 million. As compared to the total deposits of Rs1,578,960 million in the corresponding period last year, current week's deposits were higher by Rs304,470 million.

During the week under review, demand deposits stood at Rs947,355 million, a rise of Rs13,019 million over previous week's Rs934,336 million. It was also higher against last year's corresponding figure of Rs716,978 million by Rs230,377 million.

In the current week, time deposits also rose over preceding week's figure. At Rs936,075 million it was larger by Rs3,972 million over previous week's Rs932,103 million and higher by Rs74,093 million, over last year's corresponding figure of Rs861,982 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities declined in the current week. At Rs153,128 million it was smaller by Rs933 million over preceding week's Rs154,061 million. Compared to last year's corresponding figure of Rs136,730 million, the current week's figure is higher by Rs16,398 million.

Scheduled banks borrowings from banks abroad stood at Rs20,918 million in the current week, as against Rs21,943 million a week ago, showing a fall of Rs1,025 million. It was larger by Rs6,167 million over last year's corresponding figure of Rs14,751 million.

Money at call and short notice in Pakistan increased in the week over previous week's figure. It stood at Rs22,028 million, a rise of Rs.887 million over preceding week's Rs21,141 million. When compared to last year's corresponding figure of Rs30,150 million, the current figure is lower by Rs8,122 million.

Scheduled banks' advances including bills purchased and discounted increased in the week under review. At Rs1,193,291 million it was larger by Rs23,109 million over preceding week's Rs1,170,182 million.

Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,007,648 million, the current week's advances are higher by Rs185,643 million.