June 04, 2007	Monday	Jamadi-ul-Awwal 18, 1428

The State Bank of Pakistan (SBP) sold Rs16.0 billion worth of Treasury Bills in a one day repo operations at 7.75 per cent.

According to the Statement of Affairs of the SBP, for the week ended July 2May 19, 2007, both notes in circulation and those issued decreased in the week. Notes in circulation stood at Rs914,800.095 million against earlier week’s figure of Rs916,364.582 million, a fall of Rs1,564.487 million. When compared to the corresponding week a year ago when it was Rs806,603.447 million, the current week’s figure is higher by Rs108,196.648 million.

Total notes issued also fell in the current week over preceding week’s level. At Rs914,930.749 million it was smaller by Rs1,604.349 million over the figure of Rs916,535.098 million recorded a week earlier. In the corresponding week last year it amounted to Rs806,748.150 million, which shows current week’s figure to be higher by Rs108,182.599 million over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs601,466.988 million or by Rs3,203.582 million over preceding week’s figure of Rs598,263.406 million. When compared to the corresponding week a year ago, when the figure was Rs550,402.144 million, the current week’s figure is higher by Rs51,064.844 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs133,793.387 million over preceding week’s figure of Rs133,567.381 million, a rise of Rs226.006 million. Compared to last year’s corresponding figure of Rs117,677.193 million, the current week’s figure is larger by Rs16,116.194 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 Rs60,183.528 million, against preceding week’s figure of Rs59,723.528 million, showing a rise of Rs460.0 million. The current week’s figure is smaller by Rs1,460.454 million over last year’s corresponding figure of Rs61,643.982 million.

There was an inflow of Rs41,972.312 million to the industrial sector during the week under review, a rise of Rs45.586 million against preceding week’s figure of Rs41,926.726 million. When compared to last year’s corresponding figure of Rs6,279.515 million, the current week’s figure is higher by Rs35,692.797 million.

The export sector received Rs138,001.770 million against previous week’s figure of Rs138,258.557 million, a fall of Rs256.787 million. Current week’s figure was larger by Rs28,296.885 million over last year’s corresponding figure of Rs109,704.885 million.

According to the weekly statement of position of all scheduled banks for the week ended May 19, 2007, deposits and other accounts of the scheduled banks stood at Rs3,205.647 billion, higher by Rs2.356 billion over preceding week’s figure of Rs3,203.291 billion. Commercial banks deposits showed a rise of Rs2.374 billion over the week to Rs3,194.297 billion, against preceding week’s Rs3,191.923 billion, while of specialised banks it fell by Rs0.018 billion to Rs11.350 billion, over previous week’s Rs11.368 billion.

Borrowings by all scheduled banks decreased during the week over preceding week’s figure. It fell to Rs416.737 billion over preceding week’s figure of Rs422.596 billion, a fall of Rs5.859 billion. This was primarily due to a decline in the borrowings by commercial banks, which fell to Rs333.374 billion against previous week’s Rs339.534 billion, or by Rs6.16 billion, while borrowings by specialised banks stood at Rs83.363 billion, against preceding week’s figure of Rs83.063 billion, showing a rise of Rs0.3 billion.

Gross advances stood at Rs2,411.596 billion in the week under review, an increase of Rs5.18 billion over preceding week’s figure of Rs2,406.416 billion. Advances by commercial banks rose to Rs2,317.546 billion against earlier week’s figure of Rs2,312.243 billion, or by Rs5.303 billion, while of specialized banks it stood at Rs94.050 billion against preceding week’s Rs94.174 billion, showing a fall of Rs0.124 billion.

Investments of all scheduled banks increased in the week by Rs4.11 billion to Rs1,042.526 billion against preceding week’s figure of Rs1,038.416 billion. Commercial banks investment increased to Rs1,031.314 billion, from earlier week’s Rs1,026.968 billion, higher by Rs4.346 billion, while of specialized banks it stood at Rs11.212 billion against previous week’s Rs11.447 billion, smaller by Rs0.235 billion.

Cash and balances with treasury banks of all scheduled banks decreased by Rs11.05 billion during the week to stand at Rs325.227 billion against earlier week’s Rs336.277 billion. The figure for commercial banks stood at Rs322.559 billion against preceding week’s figure of Rs333.980 billion, a fall of Rs11.421 billion. For specialised banks there was a rise of Rs0.371 billion to Rs2.668 billion, against earlier week’s figure of Rs2.297 billion.

Total assets of scheduled banks stood at Rs4,314.515 billion, lower by Rs6.472 billion, over preceding week’s figure of Rs4,320.987 billion. Meanwhile, commercial banks assets stood at Rs4,200.573 billion, smaller by Rs7.58 billion over previous week’s figure of Rs4,208.153 billion. Specialised banks assets rose by Rs1.108 billion to Rs113.942 billion against previous week’s Rs112.834 billion.