24 May 2004	Monday	04 Rabi-us-Saani 1425

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended May 15, both notes in circulation and issued increased in the week under review.

Notes in circulation stood at Rs631,458.791 million against earlier week's figure of Rs630,489.708 million, showing a rise of Rs969.083 million. When compared to the corresponding week a year ago when it was Rs540,988.471 million, the current week's figure is higher by Rs90,470.32 million.

Total notes issued also recorded a rise in the current week over preceding week's level. At Rs631,679.662 million it was larger by Rs1,024.534 million over the figure of Rs630,655.128 million recorded a week earlier.

In the corresponding week last year it amounted to Rs541,230.017 million, which shows current week's figure to be higher by Rs90,449.645 million over last year's corresponding figure.

Approved foreign exchange decreased in the week, falling to Rs535,162.000 million or by Rs80,446.498 million over preceding week's figure of Rs454,715.502 million. When compared to the corresponding week a year ago, when the figure was Rs474,683.787 million, the current week's figure was higher by Rs60,478.213 million.

Balances held outside Pakistan in approved foreign exchange fell in the week under review. It stood at Rs176,606.629 million over preceding week's figure of Rs193,341.772 million, showing a fall of Rs16,735.143 million. Compared to last year's corresponding figure of Rs80,573.405 million, the current week's figure is substantially higher by Rs96,033.224 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 Rs55,955.539 million, similar to preceding week's figure.

The current week's figure is larger by Rs1,691.466 million over last year's corresponding figure of Rs54,264.073 million. There was an inflow of Rs2,363.904 million to the industrial sector during the week under review, similar to preceding week's figure.

When compared to last year's corresponding figure of Rs2,904.771 million, the current week's figure is lower by Rs540.867 million. The export sector received Rs84,902.406 million against previous week's figure of Rs84,693.356 million, showing a rise of Rs209.05 million.

Current week's figure was larger by Rs34,175.326 million over last year's corresponding figure of Rs50,727.080 million. According to the weekly statement of position of scheduled banks for the week ended May 8, 2004, the sum of demand and time liabilities increased in the week under review.

The sum total stood at Rs1,994,055 million against preceding week's Rs1,985,201 million, showing a rise of Rs8,854.0 million. As compared to the total deposits of Rs1,663,471 million in the corresponding period last year, current week's deposits were higher by Rs330,584 million.

During the week under review, demand deposits stood at Rs990,689 million, a fall of Rs2,428 million over previous week's Rs993,117 million. It was however, higher against last year's corresponding figure of Rs763,013 million by Rs227,676 million.

Time deposits increased in the current week over preceding week's figure. At Rs1,003,366 million it was larger by Rs11,282 million over previous week's Rs992,084 million and also higher by Rs102,909 million over last year's corresponding figure of Rs900,457 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs156,508 million it was larger by Rs761 million over preceding week's Rs155,747 million. Compared to last year's corresponding figure of Rs130,369 million, the current week's figure is higher by Rs26,139 million.

Scheduled banks borrowings from banks abroad stood at Rs4,297 million in the current week, as against Rs6,470 million a week ago, showing a fall of Rs2,173 million. It was smaller by Rs11,614 million over last year's corresponding figure of Rs15,911 million.

Money at call and short notice in Pakistan declined in the week over previous week's figure. It stood at Rs24,355 million, a fall of Rs3,984 million over preceding week's Rs28,339 million. When compared to last year's corresponding figure of Rs25,236 million, the current week's figure is lower by Rs881 million.

Scheduled banks advances including bills purchased and discounted increased in the week under review. At Rs1,255,514 million it was larger by Rs8,094 million over preceding week's Rs1,247,420 million.

Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,007,778 million, the current week's advances are higher by Rs247,736 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 Rs770,530 million, a rise of Rs500 million over previous week's Rs770,030 million. Compared to last year's corresponding figure of Rs692,384 million, the current week's investment is higher by Rs78,146 million.