December 11, 2006	Monday	Ziqa'ad 19, 1427

THE State Bank of Pakistan has invited bids for sale of the Pakistan Investment Bonds of three, five, 10, 15, 20 and 30 years’ maturity. The target for the sale of the PIBs is just 20 years. The coupon rates for the PIBs are 9.10, 9.30, 9.60, 10.0, 10.5 and 11 per cent, respectively.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended November 25, 2006, both notes in circulation and those issued decreased further in the week. Notes in circulation stood at Rs856,833.363 million against earlier week’s figure of Rs863,680.829 million, a fall of Rs6,847.466 million. When compared to the corresponding week a year ago when it was Rs779,173.330 million, the current week’s figure is higher by Rs77,660.033 million.

Total notes issued also fell in the current week over preceding week’s level. At Rs856,963.101 million it was lower by Rs6,932.239 million over the figure of Rs863,895.340 million recorded a week earlier. In the corresponding week last year it amounted to Rs779,316.845 million, which shows current week’s figure to be higher by Rs77,646.256 million over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs521,730.022 million or by Rs5,220.401 million over preceding week’s figure of Rs516,509.621 million. When compared to the corresponding week a year ago, when the figure was Rs412,858.026 million, the current week’s figure is higher by Rs108,871.996 million.

Balances held outside Pakistan in approved foreign exchange declined in the week under review. It stood at Rs129,613.414 million over preceding week’s figure of Rs133,124.694 million, a fall of Rs3,511.28 million. Compared to last year’s corresponding figure of Rs144,768.246 million, the current week’s figure is smaller by Rs15,154.832 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, similar to preceding week’s figure. 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 Rs21,745.346 million to the industrial sector during the week under review, a rise of Rs2,921.456 million against preceding week’s figure of Rs18,823.890 million. When compared to last year’s corresponding figure of Rs2,100.494 million, the current week’s figure is higher by Rs19,644.852 million.

The export sector received Rs123,659.541 million against previous week’s figure of Rs123,087.110 million, a rise of Rs572.431 million. Current week’s figure was larger by Rs20,115.686 million over last year’s corresponding figure of Rs103,543.855 million. According to the weekly statement of position of all scheduled banks for the week ended November 25, 2006, deposits and other accounts of the scheduled banks stood at Rs2,891.250 billion, higher by Rs37.02 billion over preceding week’s figure of Rs2,854.230 billon. Commercial banks deposits showed an increase of Rs36.844 billion over the week to Rs2,879.352 billion, against preceding week’s Rs2,842.508 billion, while of specialized banks it rose by Rs0.175 billion to Rs11.897 billion, over previous week’s Rs11.722 billion.

Borrowings by all scheduled banks declined during the week over preceding week’s figure. It fell to Rs395.124 billion over preceding week’s figure of Rs396.689 billion, a fall of Rs1.565 billion. This was primarily due to a decrease in the borrowings by commercial banks, which fell to Rs306.312 billion against previous week’s Rs308.197 billion, or by Rs1.885 billion, while borrowings by specialised banks stood at Rs88.812 billion, against preceding week’s figure of Rs88.492.

Gross advances stood at Rs2,297.416 billion in the week under review, a rise of Rs14.367 billion over preceding week’s figure of Rs2,283.049 billion. Advances by commercial banks rose to Rs2,200.523 billion against earlier week’s figure of Rs2,185.357 billion, higher by Rs15.166 billion, while of specialized banks it stood at Rs96.893 billion against preceding week’s Rs97.693 billion, showing a decline of Rs0.8 billion.

Investments of all scheduled banks declined in the week by Rs4.976 billion to Rs824.966 billion against preceding week’s figure of Rs829.942 billion. Commercial banks investment fell to Rs813.874 billion, from earlier week’s Rs819.199 billion, lower by Rs5.325 billion, while of specialized banks it stood at Rs11.093 billion against previous week’s Rs10.743 billion, larger by Rs0.35 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs22.56 billion during the week to stand at Rs325.032 billion against earlier week’s Rs302.472 billion. The figure for commercial banks also rose to Rs322.953 billion against preceding week’s figure of Rs300.477 billion, a rise of Rs22.476 billion. For specialized banks there was an increase of Rs0.083 billion to Rs2.079 billion, against earlier week’s figure of Rs1.996 billion.

Total assets of scheduled banks stood at Rs3,889.624 billion, higher by Rs43.757 billion, over preceding week’s figure of Rs3,845.867 billion. Meanwhile, commercial banks assets stood at Rs3,772.539 billion, larger by Rs43.43 billion over previous week’s figure of Rs3,729.109 billion. Specialized banks assets rose by Rs0.328 billion to Rs117.085 billion against previous week’s Rs116.757 billion.