January 22, 2007	Monday	Muharram 02, 1428

AT the auction on January 17, the State Bank of Pakistan raised Rs239.5 million of six month Treasury bills at 8.8142 per cent. The cut off yields on three month and 12 month bills remained unchanged at 8.6417 and 9.0046 per cent respectively. It sold three month T-bills worth Rs3.19 billion and 12 month T-bills worth Rs32.66 billion.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended July 2January 06, 2007, both notes in circulation and those issued decreased in the week. Notes in circulation stood at Rs916,737.738 million against earlier week’s figure of Rs917,808.920 million, a fall of Rs1,071.182 million. When compared to the corresponding week a year ago when it was Rs799,575.493 million, the current week’s figure is higher by Rs117,162.245 million.

Total notes issued also fall in the current week over preceding week’s level. At Rs916,948.087 million it was lower by Rs1001.772 million over the figure of Rs917,949.859 million recorded a week earlier. In the corresponding week last year it amounted to Rs799,759.607 million, which shows current week’s figure to be higher by Rs117,188.480 million over last year’s corresponding figure.

Approved foreign exchange decreased in the week to Rs544,031.094 million or by Rs5,333.806 million over preceding week’s figure of Rs549,364.900 million. When compared to the corresponding week a year ago, when the figure was Rs441,701.290 million, the current week’s figure is higher by Rs102,329.804 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs133,644.670 million over preceding week’s figure of Rs128,433.716 million, a rise of Rs5,210.954 million. Compared to last year’s corresponding figure of Rs131,678.844 million, the current week’s figure is smaller by Rs1,965.826 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 Rs59,183.528 million, smaller by Rs4000.0 million over preceding week’s figure of Rs63,183.528 million. The current week’s figure is smaller by Rs1,524.336 million over last year’s corresponding figure of Rs60,707.864 million.

There was an inflow of Rs41,020.440 million to the industrial sector during the week under review, a fall of Rs362.015 million against preceding week’s figure of Rs41,382.455 million. When compared to last year’s corresponding figure of Rs3,178.640 million, the current week’s figure is higher by Rs37,841.80 million.

The export sector received Rs131,841.809 million against previous week’s figure of Rs131,733.608 million, a rise of Rs108.201 million. Current week’s figure was larger by Rs25,635.058 million over last year’s corresponding figure of Rs106,206.751 million.

According to the weekly statement of position of all scheduled banks for the week ended January 06, 2007, deposits and other accounts of the scheduled banks stood at Rs2,964.350 billion, lower by Rs35.545 billion over preceding week’s figure of Rs2,999.895 billon. Commercial banks deposits showed a decrease of Rs35.451 billion over the week to Rs2,951.766 billion, against preceding week’s Rs2,987.217 billion, while of specialized banks it fell by Rs0.094 billion to Rs12.584 billion, over previous week’s Rs12.678 billion.

Borrowings by all scheduled banks decreased during the week over preceding week’s figure. It fell to Rs386.177 billion over preceding week’s figure of Rs420.080 billion, a fall of Rs33.903 billion. This was primarily due to decrease in the borrowings by commercial banks, which fell to Rs301.230 billion against previous week’s Rs330.758 billion, or by Rs29.528 billion, while borrowings by specialised banks stood at Rs84.947 billion, against preceding week’s figure of Rs89.322.

Gross advances stood at Rs2,377.534 billion in the week under review, a fall of Rs31.944 billion over preceding week’s figure of Rs2,409.478 billion. Advances by commercial banks decreased to Rs2,283.934 billion against earlier week’s figure of Rs2,315.888 billion, lower by Rs31.954 billion, while of specialized banks it stood at Rs93.600 billion against preceding week’s Rs93.590 billion, showing a increase of Rs0.010 billion.

Investments of all scheduled banks decreased in the week by Rs9.248 billion to Rs766.298 billion against preceding week’s figure of Rs775.546 billion. Commercial banks investment fell to Rs752.845 billion, from earlier week’s Rs762.656 billion, lower by Rs9.811 billion, while of specialized banks it stood at Rs13.453 billion against previous week’s Rs12.889 billion, higher by Rs0.564 billion.

Cash and balances with treasury banks of all scheduled banks decreased by Rs10.371 billion during the week to stand at Rs322.081 billion against earlier week’s Rs332.452 billion. The figure for commercial banks also fell to Rs319.749 billion against preceding week’s figure of Rs329.977 billion, a fall of Rs10.228 billion. For specialized banks there was a fall of Rs0.144 billion to Rs2.332 billion, against earlier week’s figure of Rs2.476 billion.

Total assets of scheduled banks stood at Rs3,989.639 billion, lower by Rs66.607 billion, over preceding week’s figure of Rs4,056.246 billion. Meanwhile, commercial banks assets stood at Rs3,874.500 billion, smaller by Rs63.132 billion over previous week’s figure of Rs3,937.632 billion. Specialised banks sets fell by Rs3.476 billion to Rs115.139 billion against previous week’s Rs118.615 billion.