December 17, 2007	Monday	Zilhaj 6, 1428

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 1, 2007, both notes in circulation and those issued declined in the week.

Notes in circulation stood at Rs991,255.272 million against earlier week’s Rs992,576.373 million, a fall of Rs1,321.10 million. When compared to the corresponding week a year ago when it was Rs857,115.379 million, the current week’s figure is higher by Rs134,139.893 million.

Total notes issued also fell in the current week over preceding week’s level. At Rs991,464.254 million it was smaller by Rs1,307.286 million over the figure of Rs992,771.540 million recorded a week earlier. In the corresponding week last year it amounted to Rs857,282.037 million, which shows current week’s figure to be higher by Rs134,182.217 million over last year’s corresponding figure.

Approved foreign exchange decreased in the week to Rs716,027.993 million falling by Rs23,073.709 million over preceding week’s figure of Rs739,101.702 million. When compared to the corresponding week a year ago, when the figure was Rs508,497.529 million, the current week’s figure is higher by Rs207,530.464 million.Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs147,069.743 million over preceding week’s figure of Rs142,184.976 million, a rise of Rs4,884.767 million. Compared to last year’s corresponding figure of Rs132,694.798 million, the current week’s figure is larger by Rs14,374.945 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 Rs57,855.896 million, similar to preceding week’s figure. The current week’s figure is smaller by Rs5,326.889 million over last year’s corresponding figure of Rs63,182.785 million.

There was an inflow of Rs40,296.134 million to the industrial sector during the week under review, a rise of Rs201.756 million against preceding week’s figure of Rs40,094.378 million. When compared to last year’s corresponding figure of Rs23,252.786 million, the current week’s figure is higher by Rs17,043.348 million.

The export sector received Rs99,743.651 million against previous week’s Rs100,582.413 million, smaller by Rs838.762 million. Current week’s figure was smaller by Rs25,588.61 million over last year’s corresponding figure of Rs125,332.261 million.

According to the weekly statement of position of all scheduled banks for the week ended December 1, 2007, deposits and other accounts of the scheduled banks stood at Rs3,542.007 billion, larger by Rs63.622 billion over preceding week’s figure of Rs3,478.385 billion. Commercial banks deposits showed an increase of Rs63.433 billion over the week to Rs3,529.741 billion, against preceding week’s Rs3,466.308 billion. Specialised banks deposits stood at Rs12.266 billion, against preceding week’s Rs12.076 billion, a rise of Rs0.19 billion.

Borrowings by all scheduled banks decreased during the week over preceding week’s figure. It fell to Rs420.575 billion over preceding week’s figure of Rs432.859 billion, a fall of Rs12.284 billion. This was primarily due to a decline in the borrowings by commercial banks, which fell to Rs339.281 billion against previous week’s Rs351.646 billion, or by Rs12.365 billion. Borrowings by specialised banks stood at Rs81.293 billion, against preceding week’s figure of Rs81.213 billion, a rise of Rs0.08 billion.

Gross advances stood at Rs2,563.651 billion in the week under review, an increase of Rs27.892 billion over preceding week’s figure of Rs2,535.759 billion. Advances by commercial banks rose to Rs2,468.532 billion against earlier week’s figure of Rs2,440.655 billion, or by Rs27.877 billion. Advances of specialised banks stood at Rs95.119 billion, lower by Rs0.015 billion over earlier week’s figure of Rs95.104 billion.

Investments of all scheduled banks further increased in the week by Rs3.876 billion to Rs1,217.419 billion against preceding week’s figure of Rs1,213.543 billion. Commercial banks investment rose to Rs1,203.509 billion, from earlier week’s Rs1,199.409 billion, or by Rs4.1 billion. Specialised banks investment stood at Rs13.910 billion, against preceding week’s Rs14.134 billion, smaller by Rs0.224 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs11.943 billion during the week to stand at Rs349.199 billion against earlier week’s Rs361.142 billion. The figure for commercial banks stood at Rs346.624 billion against preceding week’s figure of Rs358.629 billion, a fall of Rs12.005 billion, while of specialised banks it stood at 2.575 billion over previous week’s 2.514 billion.

Total assets of scheduled banks stood at Rs4,770.042 billion, larger by Rs61.647 billion, over preceding week’s figure of Rs4,708.395 billion. Meanwhile, commercial banks assets stood at Rs4,655.572 billion, larger by Rs61.19 billion over previous week’s figure of Rs4,594.382 billion. Specialised banks assets rose to Rs114.470 billion, or by Rs0.457 billion over previous week’s Rs114.013 billion.