ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended February 26, 2005, both notes in circulation and those issued declined in the week.

Notes in circulation stood at Rs708,115.890 million against earlier week’s figure of Rs717,515.915 million, a fall of Rs9,400.025 million. When compared to the corresponding week a year ago when it was Rs612,767.094 million, the current week’s figure is higher by Rs95,348.796 million.

Total notes issued also fell in the current week over preceding week’s level. At Rs708,335.135 million it was smaller by Rs9,391.294 million over the figure of Rs717,726.429 million recorded a week earlier. In the corresponding week last year it amounted to Rs612,877.527 million, which shows current week’s figure to be higher by Rs95,457.608 million over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs482,958.045 million or by Rs6,070.511 million over preceding week’s figure of Rs476,887.534 million. When compared to the corresponding week a year ago, when the figure was Rs513,206.866 million, the current week’s figure was smaller by Rs30,248.821 million.

Balances held outside Pakistan in approved foreign exchange decreased in the week under review. It stood at Rs126,464.010 million over preceding week’s figure of Rs132,125.072 million, a fall of Rs5,661.062 million. Compared to last year’s corresponding figure of Rs125,563.415 million, the current week’s figure is higher by Rs900.595 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 Rs59,576.437 million, an increase of Rs1,000 million over preceding week’s figure of Rs58,576.437 million. The current week’s figure is larger by Rs3,900.898 million over last year’s corresponding figure of Rs55,675.539 million.

There was an inflow of Rs1,166.982 million to the industrial sector during the week under review, against preceding week’s figure of Rs1,166.988 million, a fall of Rs0.006 million. When compared to last year’s corresponding figure of Rs2,516.143 million, the current week’s figure is lower by Rs1,349.161 million.

The export sector received Rs104,742.220 million against previous week’s figure of Rs105,532.898 million, a fall of Rs790.678 million. Current week’s figure was larger by Rs28,755.653 million over last year’s corresponding figure of Rs75,986.567 million.

According to the weekly statement of position of scheduled banks for the week ended February 26, 2005, the sum of demand and time liabilities rose in the week under review. The sum total stood at Rs2,312,805 million against preceding week’s Rs2,287,165 million, a rise of Rs25,640 million. As compared to the total deposits of Rs1,920,579 million in the corresponding period last year, current week’s deposits were higher by Rs392,226 million.

During the week under review, demand deposits stood at Rs1,201,688 million, a rise of Rs17,272 million over previous week’s Rs1,184,416 million. It was also higher against last year’s corresponding figure of Rs962,250 million by Rs239,438 million.

Time deposits rose in the current week. At Rs1,111,117 million it was higher by Rs.8,368 million over previous week’s Rs1,102,749 million and by Rs152,788 million over last year’s corresponding figure of Rs958,329 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities fell in the current week. At Rs175,563 million it was smaller by Rs938 million over preceding week’s Rs176,501 million. Compared to last year’s corresponding figure of Rs146,761 million, the current week’s figure is higher by Rs28,802 million.

Scheduled banks borrowings from banks abroad stood at Rs5,674 million in the current week, as against Rs6,632 million a week ago, a fall of Rs958 million. It was smaller by Rs15,929 million over last year’s corresponding figure of Rs21,603 million.

Money at call and short notice in Pakistan rose in the week under review as against previous week’s figure. It stood at Rs32,794 million, a rise of Rs3,746 million over preceding week’s Rs.29,048 million. When compared to last year’s corresponding figure of Rs27,532 million, the current week’s figure is higher by Rs5,262 million.

Scheduled banks’ advances including bills purchased and discounted increased in the week under review. At Rs1,657,057 million it was higher by Rs8,149 million over preceding week’s Rs1,648,908 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,232,102 million, the current week’s advances are higher by Rs424,955 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities showed a rise in the current week when compared to preceding week’s level. Such investments amounted to Rs646,996 million, a rise of Rs7,317 million over previous week’s Rs639,679 million. Compared to last year’s corresponding figure of Rs743,778 million, the current week’s investment is smaller by Rs96,782 million.

Total assets of scheduled banks increased in the week under review. These stood at Rs3,300,570 million against previous week’s Rs3,261,181 million, a rise of Rs39,389 million. Compared to last year’s corresponding figure of Rs2,758,568 million, it shows a rise of Rs542,002 million.