The State Bank of Pakistan on April 14 realised Rs16.814 billion through the sale of Treasury Bills. The State Bank sold T-bills of 3 months and one year maturity.
An amount of Rs697.41 million was realised through the sale of 3-month T-bills at 1.0137 per cent, and Rs16.117 billion at 2.1091 per cent for one year T-bills.
On April 16, the State Bank of Pakistan mopped up Rs16.5 billion from a fairly liquid inter-bank market through two-week repo of Treasury Bills at 1.14 per cent. Bids attracted were of the amount of Rs20.9 billion.
According to the Statement of Affairs of the State Bank of Pakistan, for the week ended April 10, 2004, both notes in circulation and those issued increased in the week under review. Notes in circulation stood at Rs620,487.561 million against earlier week's figure of Rs609,046.552 million, showing a rise of Rs11,441.009 million. When compared to the corresponding week a year ago when it was Rs529,153.143 million, the current week's figure is higher by Rs91,334.418 million.
Total notes issued also recorded a rise in the current week over preceding week's level. At Rs620,675.391 million it was larger by Rs11,427.981 million over the figure of Rs609,247.410 million recorded a week earlier. In the corresponding week last year it amounted to Rs529,363.027 million, which shows current week's figure to be higher by Rs91,312.364 million over last year's corresponding figure.
Approved foreign exchange decreased in the week, falling to Rs496,571.467 million or by Rs16.278.854 million over preceding week's figure of Rs512,850.321 million. When compared to the corresponding week a year ago, when the figure was Rs451,030.856 million, the current week's figure was higher by Rs45,540.611 million.
Balances held outside Pakistan in approved foreign exchange rose in the week under review. It stood at Rs151,509.556 million over preceding week's figure of Rs132,459.649 million, showing a rise of Rs19,049.907 million. Compared to last year's corresponding figure of Rs93,874.552 million, the current week's figure is substantially higher by Rs57,635.004 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 Rs55,655.539 million, against preceding week's figure of Rs55,675.539 million showing fall of Rs20 million. The current week's figure is larger by Rs1,745.466 million over last year's corresponding figure of Rs53,910.073 million.
There was an inflow of Rs2,380.012 million to the industrial sector during the week under review, against preceding week's figure of Rs2,387.491 million showing a fall of Rs7.479 million. When compared to last year's corresponding figure of Rs2,941.825 million, the current week's figure is lower by Rs561.813 million.
The export sector received Rs80,335.402 million against previous week's figure of Rs79,858.974 million, showing a rise of Rs476.428 million. Current week's figure was larger by Rs35,790.313 million over last year's corresponding figure of Rs44,545.089 million.
According to the weekly statement of position of scheduled banks for the week ended April 03, 2004, the sum of demand and time liabilities decreased in the week under review. The sum total stood at Rs1,944,949 million against preceding week's Rs1,946,949 million, showing a fall of Rs2,000 million. As compared to the total deposits of Rs1,647,130 million in the corresponding period last year, current week's deposits were higher by Rs297,819 million.
During the week under review, demand deposits stood at Rs967,053 million, a rise of Rs11,792 million over previous week's Rs978,845 million. It was however, higher against last year's corresponding figure of Rs745,510 million by Rs221,543 million.
However, time deposits increased in the current week over preceding week's figure. At Rs977,896 million it was larger by Rs10,398 million over previous week's Rs967,498 million and by Rs76,276 million over last year's corresponding figure of Rs901,620 million.
Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs151,583 million it was larger by Rs716 million over preceding week's Rs150,867 million. Compared to last year's corresponding figure of Rs128,710 million, the current week's figure is higher by Rs22,873 million.
