On July 21, the State Bank of Pakistan raised weighted average yield on the six-month Treasury bills by 45 basis points to 2.52 per cent from 2.07 per cent.
The central bank sold Rs67.5 billion T-bills against a target of Rs70 billion to raise Rs66.9 billion for the government. This was the first such sale in current fiscal.
According to the weekly statement of position of scheduled banks for the week ended July 10, 2004, the sum of demand liabilities declined while time liabilities rose. The sum total stood at Rs2,126,803 million against the preceding week's Rs2,122,683 million, a rise of Rs4,120 million.
As compared to total deposits of Rs1,746,506 million in the corresponding period last year, current week's deposits were higher by Rs380,297 million. During the week under review, demand deposits stood at Rs1,069,662 million, a fall of Rs1,685 million over previous week's Rs1,071,347 million. It was higher against last year's corresponding figure of Rs826,264 million by Rs243,398 million.
Time deposits rose in the current week over preceding week's figure. At Rs1,057,141 million it was larger by Rs5,805 million over previous week's Rs1,051,336 million and by Rs136,899 million over last year's corresponding figure of Rs920,242 million.
Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities decreased in the current week. At Rs161,183 million it was smaller by Rs1,431 million over the preceding week's Rs162,614 million.
Compared to last year's corresponding figure of Rs137,111 million, the current week's figure is higher by Rs24,072 million. Scheduled banks borrowings from banks abroad stood at Rs4,960 million in the current week, as against Rs9,727 million a week ago, a fall of Rs4,767 million.
It was smaller by Rs16,490 million over last year's corresponding figure of Rs21,450 million. Money at call and short notice in Pakistan declined in the week over previous week's figure.
It stood at Rs28,025 million, a fall of Rs3,100 million over preceding week's Rs31,125 million. When compared to last year's corresponding figure of Rs25,456 million, the current week's figure is higher by Rs2,569 million.
Scheduled banks advances including bills purchased and discounted decreased in the week under review. At Rs1,339,318 million it was smaller by Rs3,942 million over preceding week's Rs1,343,260 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,041,230 million, the current week's advances are higher by Rs298,088 million.
Scheduled banks investment in central government securities, Treasury bills and other approved securities decreased in the current week when compared to preceding week's level. Such investments amounted to Rs744,911 million, a fall of Rs36,192 million over previous week's Rs781,103 million.
Compared to last year's corresponding figure of Rs738,752 million, the current week's investment is higher by Rs6,159 million. Total assets of scheduled banks increased in the week under review.
These stood at Rs2,992,545 million against previous week's Rs2,990,008 million, a rise of Rs2,537 million. Compared to last year's corresponding figure of Rs2,512,598 million it shows a rise of Rs479,947 million.
