06 September 2004	Monday	20 Rajab 1425

On September 1, the State Bank of Pakistan raised the yields on three month and one year treasury bills to 2.23 per cent and 2.97 per cent respectively.

The State Bank sold Rs61.5 billion of T-bills against the target of Rs.50 billion.

In the last auction also, the SBP had increased the weighted average yield on 3 month and one year T-bills. According to the weekly statement of position of scheduled banks for the week ended August 21, 2004, the sum of demand and time liabilities continued the upward trend in the week under review.

The sum total stood at Rs2,149,204 million against preceding week's Rs2,156,461 million, a fall of Rs7,257 million. As compared to the total deposits of Rs1,786,812 million in the corresponding period last year, current week's deposits were higher by Rs362,392 million.

During the week under review, demand deposits stood at Rs1,088,478 million, a fall of Rs15,763 million over previous week's Rs1,104,241 million. It was, however, higher against last year's corresponding figure of Rs854,575 million by Rs233,903 million.

Time deposits increased in the current week. At Rs1,060,726 million it was larger by Rs8,506 million over previous week's Rs1,052,220 million and by Rs128,489 million over last year's corresponding figure of Rs932,237 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities fell in the current week. At Rs158,186 million, it was smaller by Rs2,333 million over preceding week's Rs160,519 million. Compared to last year's corresponding figure of Rs130,855 million, the current week's figure is higher by Rs27,331 million.

Scheduled banks borrowings from banks abroad stood at Rs5,455 million in the current week, as against Rs6,624 million a week ago, a decline of Rs1,169 million. It was smaller by Rs14,533 million over last year's corresponding figure of Rs19,988 million.

Money at call and short notice in Pakistan increased in the week over previous week's figure. It stood at Rs39,250 million, a rise of Rs2,084 million over preceding week's Rs37,166 million.

When compared to last year's corresponding figure of Rs22,441 million, the current week's figure is higher by Rs16,809 million. Scheduled banks' advances including bills purchased and discounted rose in the week under review.

At Rs1,361,957 million it was larger by Rs7,178 million over preceding week's Rs1,354,779 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,045,971 million, the current week's advances are higher by Rs315,986 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 Rs796,179 million, a rise of Rs7,941 million over previous week's Rs788,238 million. Compared to last year's corresponding figure of Rs786,989 million, the current week's investment is higher by Rs9,190 million.

Total assets of scheduled banks increased in the week under review. These stood at Rs3,052,861 million against previous week's Rs3,038,592 million, a rise of Rs14,269 million. Compared to last year's corresponding figure of Rs2,556,651 million it shows a rise of Rs496,210 million.