December 04, 2006	Monday	Ziqa'ad 12, 1427

ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended November 18, 2006, both notes in circulation and those issued decreased. Notes in circulation stood at Rs863,680.829 million against earlier week’s figure of Rs864,242.019 million, a fall of Rs561.190 million. When compared to the corresponding week a year ago when it was Rs784,081.161 million, the current week’s figure is higher by Rs79,599.668 million.

Total notes issued also fell in the current week over preceding week’s level. At Rs863,895.340 million it was lower by Rs609.196 million over the figure of Rs864,504.536 million recorded a week earlier. In the corresponding week last year it amounted to Rs784,242.323 million, which shows current week’s figure to be higher by Rs79,653.017 million over last year’s corresponding figure.

Approved foreign exchange decreased in the week to Rs516,509.621 million or by Rs2,620.583 million over preceding week’s figure of Rs519,130.204 million. When compared to the corresponding week a year ago, when the figure was Rs419,159.485 million, the current week’s figure is higher by Rs97,350.136 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs133,124.694 million over preceding week’s figure of Rs130,411.071 million, a rise of Rs2,713.623 million. Compared to last year’s corresponding figure of Rs144,374.370 million, the current week’s figure is smaller by Rs11,249.676 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 Rs63,182.785 million, against preceding week’s figure of Rs62,682.785 million, showing a rise of Rs500 million. The current week’s figure is larger by Rs2,468.723 million over last year’s corresponding figure of Rs60,714.062 million.

There was an inflow of Rs18,823.890 million to the industrial sector during the week under review, a rise of Rs2,544.450 million against preceding week’s figure of Rs16,278.940 million. When compared to last year’s corresponding figure of Rs2,094.131 million, the current week’s figure is higher by Rs16,729.259 million.

The export sector received Rs123,087.110 million against previous week’s figure of Rs121,462.720 million, a rise of Rs1,624.390 million. Current week’s figure was larger by Rs19,503.264 million over last year’s corresponding figure of Rs103,583.846 million.

According to the weekly statement of position of all scheduled banks for the week ended November 18, 2006, deposits and other accounts of the scheduled banks stood at Rs2,854.230 billion, higher by Rs13.605 billion over preceding week’s figure of Rs2,840.625 billon. Commercial banks deposits showed an increase of Rs13.565 billion over the week to Rs2,842.508 billion, against preceding week’s Rs2,828.943 billion, while of specialized banks it rose by Rs0.04 billion to Rs11.722 billion, over previous week’s Rs11.682 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs396.689 billion over preceding week’s figure of Rs395.624 billion, a rise of Rs1.065 billion. This was primarily due to an increase in the borrowings by commercial banks, which increased to Rs308.197 billion against previous week’s Rs307.512 billion, or by Rs0.685 billion, while borrowings by specialised banks stood at Rs88.492 billion, against preceding week’s figure of Rs88.112.

Gross advances stood at Rs2,283.049 billion in the week under review, a rise of Rs8.469 billion over preceding week’s figure of Rs2,274.580 billion. Advances by commercial banks rose to Rs2,185.357 billion against earlier week’s figure of Rs2,176.602 billion, higher by Rs8.755 billion, while of specialized banks it stood at Rs97.693 billion against preceding week’s Rs97.979 billion, showing a decline of Rs0.286 billion.

Investments of all scheduled banks increased in the week by Rs1.763 billion to Rs829.942 billion against preceding week’s figure of Rs828.179 billion. Commercial banks investment increased to Rs819.199 billion, from earlier week’s Rs817.595 billion, higher by Rs1.604 billion, while of specialized banks it stood at Rs10.743 billion against previous week’s Rs10.584 billion, larger by Rs0.159 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs0.345 billion during the week to stand at Rs302.472 billion against earlier week’s Rs302.127 billion. The figure for commercial banks also rose to Rs300.477 billion against preceding week’s figure of Rs300.193 billion, a rise of Rs0.284 billion. For specialized banks there was an increase of Rs0.062 billion to Rs1.996 billion, against earlier week’s figure of Rs1.934 billion.

Total assets of scheduled banks stood at Rs3,845.867 billion, higher by Rs2.285 billion, over preceding week’s figure of Rs3,843.582 billion. Meanwhile, commercial banks assets stood at Rs3,729.109 billion, larger by Rs1.917 billion over previous week’s figure of Rs3,727.192 billion. Specialized banks assets fell by Rs0.367 billion to Rs116.757 billion against previous week’s Rs116.390 billion.