October 29, 2007	Monday	Shawwal 16, 1428

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended July 2October 13, 2007, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs999,074.599 million against earlier week’s figure of Rs964,222.611 million, a rise of Rs34,851.988 million. When compared to the corresponding week a year ago when it was Rs836,254.585 million, the current week’s figure is higher by Rs162,820.014 million.

Total notes issued also increased in the current week over preceding week’s level. At Rs999,253.825 million it was larger by Rs34,886,639 million over the figure of Rs964,367.186 million recorded a week earlier. In the corresponding week last year it amounted to Rs836,447.495 million, which shows current week’s figure to be higher by Rs162,806.33 million over last year’s corresponding figure.

Approved foreign exchange decreased in the week to Rs742,233.088 million or by Rs321.613 million over preceding week’s figure of Rs742,554.701 million. When compared to the corresponding week a year ago, when the figure was Rs507,900.419 million, the current week’s figure is higher by Rs234,332.669 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs145,563.289 million over preceding week’s figure of Rs135,814.918 million, a rise of Rs9,748.371 million. Compared to last year’s corresponding figure of Rs142,668.084 million, the current week’s figure is larger by Rs2,895.205 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 Rs57,955.896 million, similar to preceding week’s figure. The current week’s figure is smaller by Rs4,726.889 million over last year’s corresponding figure of Rs62,682.785 million.

There was an inflow of Rs39,493.371 million to the industrial sector during the week under review, a rise of Rs49.378 million against preceding week’s figure of Rs39,443.993 million. When compared to last year’s corresponding figure of Rs8,519.232 million, the current week’s figure is higher by Rs30,974.139 million.

The export sector received Rs100,218.940 million against previous week’s figure of Rs100,303.798 million, a fall of Rs84.858 million. Current week’s figure was smaller by Rs16,641.517 million over last year’s corresponding figure of Rs116,860.457 million.

According to the weekly statement of position of all scheduled banks for the week ended October 12, 2007, deposits and other accounts of the scheduled banks stood at Rs3,397.993 billion, smaller by Rs47.503 billion over preceding week’s figure of Rs3,445.496 billion. Commercial banks deposits showed a decline of Rs47.511 billion over the week to Rs3,385.765 billion, against preceding week’s Rs3,433.276 billion. Specialized banks deposits stood at Rs12.228 billion, against preceding week’s Rs12.220 billion, a rise of Rs0.008 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs449.023 billion over preceding week’s figure of Rs398.155 billion, a rise of Rs50.868 billion. This was primarily due to a rise in the borrowings by commercial banks, which rose to Rs368.080 billion against previous week’s Rs317.162 billion, or by Rs50.918 billion. Borrowings by specialized banks stood at Rs80.943 billion, against preceding week’s figure of Rs80.993 billion, a fall of Rs0.05 billion.

Gross advances stood at Rs2,458.733 billion in the week under review, an increase of Rs7.507 billion over preceding week’s figure of Rs2,451.226 billion. Advances by commercial banks rose to Rs2,363.612 billion against earlier week’s figure of Rs2,356.231 billion, or by Rs7.381 billion. Advances of specialized banks stood at Rs95.120 billion, smaller by Rs0.125 billion over earlier week’s figure of Rs94.995 billion.

Investments of all scheduled banks declined in the week by Rs4.69 billion to Rs1,245.881 billion against preceding week’s figure of Rs1,250.571 billion. Commercial banks investment fell to Rs1,231.203 billion, from earlier week’s Rs1,236.049 billion, smaller by Rs4.846 billion. Specialized banks investment stood at Rs14.678 billion, against preceding week’s Rs14.522 billion, larger by Rs0.156 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs0.101 billion during the week to stand at Rs344.277 billion against earlier week’s Rs344.176 billion.

The figure for commercial banks stood at Rs341.794 billion against preceding week’s figure of Rs341.712 billion, a fall of Rs0.082 billion, while of specialized banks it stood at 2.483 billion over previous week’s 2.464 billion.