AT the auction on September 28, the State Bank of Pakistan sold Rs144.15 million of three-month Treasury Bills and Rs5.011 billion of the 12-month paper. It received total bids worth Rs44.185 billion. The SBP kept the cut-off yield on the three-month and 12-month T-bills unchanged at 8.10 per cent and 8.7907 per cent, respectively.
According to the Statement of Affairs of the State Bank of Pakistan, both notes in circulation and those issued decreased in the week. Notes in circulation stood at Rs714,957.333 million against earlier week’s figure of Rs720,216.583 million, a fall of Rs5,259.25 million. When compared to the corresponding week a year ago it was Rs614,396.552 million, the current week’s figure is higher by Rs100,560.781 million.
Total notes issued also fell in the current week over preceding week’s level. At Rs715,183.117 million it was lower by Rs5,244.748 million over the figure of Rs720,427.865 million recorded a week earlier. In the corresponding week last year it amounted to Rs614,537.169 million, which shows current week’s figure to be higher by Rs100,645.948 million over last year’s corresponding figure.
Approved foreign exchange rose in the week to Rs469,594.315 million or by Rs3,910.264 million over preceding week’s figure of Rs473,504.579 million. When compared to the corresponding week a year ago, when the figure was Rs397,264.407 million, the current week’s figure is higher by Rs72,329.908 million.
Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs134,697.998 million over preceding week’s figure of Rs131,949.180 million, a rise of Rs2,748.818 million. Compared to last year’s corresponding figure of Rs210,208.416 million, the current week’s figure is smaller by Rs75,510.418 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 Rs60,225.262 million, similar to preceding week’s figure. The current week’s figure is larger by Rs2,219.981 million over last year’s corresponding figure of Rs58,005.281 million.
There was an inflow of Rs1,535.227 million to the industrial sector during the week under review, a fall of Rs0.356 million against preceding week’s figure of Rs1,535.583 million. When compared to last year’s corresponding figure of Rs2,316.151 million, the current week’s figure is lower by Rs780.924 million.
The export sector received Rs101,454.131 million against previous week’s figure of Rs105,053.229 million, a fall of Rs3,599.098 million. Current week’s figure was larger by Rs16,155.164 million over last year’s corresponding figure of Rs85,298.967 million.
According to the weekly statement of position of all scheduled banks for the week ended September 17, 2005, deposits and other accounts of the scheduled banks stood at Rs2,410.20 billion, declining by Rs13.96 billion over preceding week’s figure of Rs2,424.16 billon. Commercial banks deposits showed a fall of Rs14.05 billion over the week to Rs2,397.03 billion against preceding week’s Rs2,411.08 billion, while of specialized banks it fell by Rs0.08 billion to Rs13.17 billion, over previous week’s Rs13.09 billion.
Borrowings by all scheduled banks also declined during the week. It fell to Rs298.71 billion over preceding week’s figure of Rs288.96 billion, a fall of Rs9.75 billion. This was primarily due to substantial decrease in the borrowings by commercial banks, which fell to Rs219.63 billion against previous week’s Rs209.82 billion, a decline of Rs9.81 billion, while borrowings by specialized banks decreased by Rs0.06 billion to Rs79.08 billion against Rs79.14 billion a week earlier.
Gross advances stood at Rs1,801.13 billion in the week under review, a rise of Rs5.21 billion over preceding week’s figure of Rs1,795.92 billion. Advances by commercial banks rose to Rs1,691.32 billion against earlier week’s figure of Rs1,686.34 billion or by Rs4.98 billion.
Investment of all scheduled banks declined in the week to Rs771.10 billion, or by Rs1.35 billion against preceding week’s figure of Rs772.45 billion. Commercial banks investment level fell to Rs758.91 billion from earlier week’s Rs762.04 billion or by Rs3.13 billion, while for specialized banks it stood at Rs12.19 billion against previous week’s Rs10.41 billion, a rise of Rs1.78 billion.
Cash and balances with treasury banks of all scheduled banks recorded a rise of Rs9.52 billion during the week to stand at Rs222.33 billion against earlier week’s Rs212.81 billion. The figure for commercial banks declined to Rs220.65 billion against preceding week’s figure of Rs211.13 billion, a rise of Rs9.52 billion. For specialized banks the rise was to the tune of Rs0.01 billion to Rs1.68 billion, against earlier week’s figure of Rs1.67 billion.
Total assets of scheduled banks stood at Rs3,204.26 billion, a decrease of Rs2.62 billion, over preceding week’s figure of Rs3,206.88 billion. Meanwhile, commercial banks assets stood at Rs3,093.84 billion, lower by Rs4.9 billion over previous week’s figure of Rs3,098.74 billion. Specialized banks assets rose by Rs2.29 billion to Rs110.43 billion against previous week’s Rs108.14 billion.
AT the auction on September 28, the State Bank of Pakistan sold Rs144.15 million of three-month Treasury Bills and Rs5.011 billion of the 12-month paper. It received total bids worth Rs44.185 billion. The SBP kept the cut-off yield on the three-month and 12-month T-bills unchanged at 8.10 per cent and 8.7907 per cent, respectively.
