April 3, 2006	Monday	Rabi-ul-Awwal 4, 1427

IN the auction on March 29, the State Bank of Pakistan sold Rs40.515 billion worth of Treasury Bills of three, six and 12 months maturity. The SBP had set a target of Rs14 billion, but it received bids worth Rs45.5 billion.

The SBP sold Rs36.915 billion of 12-month paper, Rs3.1 billion of three-month bills and Rs500 million of six-month Treasury bills. Maturities flowing into the market on March 30 would total Rs22.75 billion. Inflows include Rs2.8 billion from the maturing T-bills and Rs19.95 billion from the Open Market Operations.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended March 25, 2006, balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs147,811.222 million over preceding week’s figure of Rs143,534.721 million, showing a rise of Rs4,276.501 million. Compared to last year’s corresponding figure of Rs129,321.672 million, the current week’s figure higher is by Rs18,489.550 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 Rs61,700.923 million, similar to preceding week’s figure. The current week’s figure is larger by Rs2,691.486 million over last year’s corresponding figure of Rs59,009.437 million.

There was an inflow of Rs5,413.729 million to the industrial sector during the week under review, a rise of Rs9.499 million against preceding week’s figure of Rs5,404.230 million. When compared to last year’s corresponding figure of Rs1,258.577 million, the current week’s figure is higher by Rs4,155.152 million.

The export sector received Rs106,093.740 million against previous week’s figure of Rs105,639.971 million, a rise of Rs453.769m. Current week’s figure was smaller by Rs590.087 million over last year’s corresponding figure of Rs106,683.827 million.

According to the weekly statement of position of all scheduled banks for the week ended March 18, 2006, deposits and other accounts of the scheduled banks stood at Rs2,635.035 billion, decreasing by Rs5.525 billion over preceding week’s figure of Rs2,640.560 billon. Commercial banks deposits showed a fall of Rs5.533 billion over the week to Rs2,622.844 billion against preceding week’s Rs2,628.377 billion, while of specialized banks it rose by Rs0.008 billion to Rs12.191 billion, over previous week’s Rs12.183 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs323.427 billion over preceding week’s figure of Rs319.1980 billion, a rise of Rs4.237 billion. This was primarily due to a rise in the borrowings by commercial banks, which increased to Rs239.828 billion against previous week’s Rs235.647 billion, or by Rs4.361 billion, while borrowings by specialised banks stood at Rs83.599 billion against preceding week’s Rs83.724 billion.

Gross advances stood at Rs2,058.573 billion in the week under review, a rise of Rs3.124 billion over preceding week’s figure of Rs2,055.449 billion. Advances by commercial banks rose to Rs1,953.257 billion against earlier week’s figure of Rs1,950.280 billion, higher by Rs2.977 billion.

Investments of all scheduled banks rose in the week by Rs19.746 billion to Rs775.178 billion against preceding week’s figure of Rs755.432 billion. Commercial banks investment level rose to Rs757.778 billion, from earlier week’s Rs738.438 billion, higher by Rs19.34 billion, while of specialized banks it stood at Rs17.40 billion against previous week’s Rs16.994 billion, a rise of Rs0.406 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs7.914 billion during the week to stand at Rs237.075 billion against earlier week’s Rs244.989 billion. The figure for commercial banks fell to Rs235.146 billion against preceding week’s figure of Rs243.087 billion, a fall of Rs7.941 billion. For specialized banks there was a rise of Rs0.028 billion to Rs1.929 billion, against earlier week’s figure of Rs1.901 billion.

Total assets of scheduled banks stood at Rs3,455.167 billion, a decrease of Rs3.507 billion, over preceding week’s figure of Rs3,458.674 billion. Meanwhile, commercial banks assets stood at Rs3,335.123 billion, lower by Rs3.519 billion over previous week’s figure of Rs3,338.642 billion. Specialized banks assets rose by Rs0.012 billion to Rs120.044 billion against previous week’s Rs120.032 billion.