December 18, 2006	Monday	Ziqa'ad 26, 1427

ACCORDING to the Statement of Affairs of the State Bank of Pakistan for the week ended December 2, 2006, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs857,115.379 million against earlier week’s figure of Rs856,833.363 million, a rise of Rs282.016 million. When compared to the corresponding week a year ago when it was Rs780,382.457 million, the current week’s figure is higher by Rs76,732.922 million.

Total notes issued also rose in the current week over preceding week’s level. At Rs857,282.037 million it was larger by Rs318.936 million over the figure of Rs856,963.101 million recorded a week earlier. In the corresponding week last year it amounted to Rs780,528.629 million, which shows current week’s figure to be higher by Rs76,753.408 million over last year’s corresponding figure.

Approved foreign exchange declined in the week to Rs508,497.529 million or by Rs13,232.793 million over preceding week’s figure of Rs521,730.022 million. When compared to the corresponding week a year ago, when the figure was Rs416,574.132 million, the current week’s figure is higher by Rs91,923.397 million.

Balances held outside Pakistan in approved foreign exchange rose in the week under review. It stood at Rs132,694.798 million over preceding week’s figure of Rs129,613.414 million, a rise of Rs3,081.384 million. Compared to last year’s corresponding figure of Rs143,956.683 million, the current week’s figure is larger by Rs11,261.885 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 Rs2,055.885 million over last year’s corresponding figure of Rs61,126.896 million.

There was an inflow of Rs23,252.786 million to the industrial sector during the week under review, a rise of Rs1,507.44 million against preceding week’s figure of Rs21,745.346 million. When compared to last year’s corresponding figure of Rs2,360.611 million, the current week’s figure is higher by Rs20,892.175 million.

The export sector received Rs125,332.261 million against previous week’s figure of Rs123,659.541 million, a rise of Rs1,672.72 million. Current week’s figure was larger by Rs20,394.405 million over last year’s corresponding figure of Rs104,937.856 million.

According to the weekly statement of position of all scheduled banks for the week ended December 2, 2006, deposits and other accounts of the scheduled banks stood at Rs2,922.671 billion, higher by Rs31.421billion over preceding week’s figure of Rs2,891.250 billon. Commercial banks deposits showed an increase of Rs31.267 billion over the week to Rs2,910.619 billion, against preceding week’s Rs2,879.352 billion, while of specialized banks it rose by Rs0.155 billion to Rs12.052 billion, over previous week’s Rs11.897 billion.

Borrowings by all scheduled banks declined during the week over preceding week’s figure. It fell to Rs381.639 billion over preceding week’s figure of Rs395.124 billion, a fall of Rs13.485 billion. This was primarily due to a decrease in the borrowings by commercial banks, which fell to Rs293.017 billion against previous week’s Rs306.312 billion, or by Rs13.295 billion, while borrowings by specialised banks stood at Rs88.622 billion, against preceding week’s figure of Rs88.812.

Gross advances stood at Rs2,308.883 billion in the week under review, a rise of Rs11.467 billion over preceding week’s figure of Rs2,297.416 billion. Advances by commercial banks rose to Rs2,212.764 billion against earlier week’s figure of Rs2,200.523 billion, higher by Rs12.241 billion, while of specialized banks it stood at Rs96.119 billion against preceding week’s Rs96.893 billion, showing a decline of Rs0.774 billion.

Investments of all scheduled banks declined in the week by Rs8.351 billion to Rs816.615 billion against preceding week’s figure of Rs824.966 billion. Commercial banks investment fell to Rs805.902 billion, from earlier week’s Rs813.874 billion, lower by Rs7.972 billion, while of specialized banks it stood at Rs10.714 billion against previous week’s Rs11.093 billion, larger by Rs0.379 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs16.456 billion during the week to stand at Rs308.576 billion against earlier week’s Rs325.032 billion. The figure for commercial banks also fell to Rs306.477 billion against preceding week’s figure of Rs322.953 billion, a fall of Rs16.476 billion. For specialized banks there was an increase of Rs0.019 billion to Rs2.098 billion, against earlier week’s figure of Rs2.079 billion.

Total assets of scheduled banks stood at Rs3,903.199 billion, higher by Rs13.575 billion, over preceding week’s figure of Rs3,889.624 billion. Meanwhile, commercial banks assets stood at Rs3,786.035 billion, larger by Rs13.496 billion over previous week’s figure of Rs3,772.539 billion. Specialised banks assets rose by Rs0.079 billion to Rs117.164 billion against previous week’s Rs117.085 billion.