January 28, 2008	Monday	Muharram 18, 1429

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 12, 2008, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs1,056.633 billion against earlier week’s figure of Rs1,056.351 billion, a rise of Rs0.282 billion. When compared to the corresponding week a year ago when it was Rs905.448 billion, the current week’s figure is higher by Rs151.185 billion.

Total notes issued also increased in the current week over preceding week’s level. At Rs1,056.804 billion it was larger by Rs0.293 billion over the figure of Rs1,056.511 billion recorded a week earlier. In the corresponding week last year it amounted to Rs905.618 billion, which shows current week’s figure to be higher by Rs151.186 billion over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs681.877 billion or by Rs3.424 billion over preceding week’s figure of Rs678.453 billion. When compared to the corresponding week a year ago, when the figure was Rs537.958 billion, the current week’s figure is higher by Rs143.919 billion.

Balances held outside Pakistan in approved foreign exchange decreased in the week under review. It stood at Rs147.775 billion over preceding week’s figure of Rs155.654 billion, a fall of Rs7.879 billion. Compared to last year’s corresponding figure of Rs137.194 billion, the current week’s figure is larger by Rs10.581 billion.

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 Rs57.777 billion, against preceding week’s figure of Rs49.777 billion, showing a rise of Rs8 billion. The current week’s figure is smaller by Rs1.406 billion over last year’s corresponding figure of Rs59.183 billion.

There was an inflow of Rs39.784 billion to the industrial sector during the week under review, a rise of Rs0.04 billion against preceding week’s figure of Rs39.744 billion. When compared to last year’s corresponding figure of Rs41.242 billion, the current week’s figure is lower by Rs1.458 billion.

The export sector received Rs99.057 billion against previous week’s figure of Rs99.247 billion, smaller by Rs0.19 billion. Current week’s figure was smaller by Rs32.914 billion over last year’s corresponding figure of Rs131.971 billion.

According to the weekly statement of position of all scheduled banks for the week ended January 12, 2008, deposits and other accounts of the scheduled banks stood at Rs3,563.250 billion, smaller by Rs31.436 billion over preceding week’s figure of Rs3,594.686 billion. Commercial banks deposits showed a decrease of Rs31.177 billion over the week to Rs3,550.728 billion, against preceding week’s Rs3,581.905 billion. Specialized banks deposits stood at Rs12.522 billion, against preceding week’s Rs12.781 billion, a rise of Rs0.259 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs416.403 billion over preceding week’s figure of Rs413.102 billion, a rise of Rs3.301 billion. This was primarily due to a rise in the borrowings by commercial banks, which rose to Rs335.366 billion against previous week’s Rs331.975 billion, or by Rs3.391 billion. Borrowings by specialized banks stood at Rs81.037 billion, against preceding week’s figure of Rs81.127 billion, a fall of Rs0.09 billion.

Gross advances stood at Rs2,675.721 billion in the week under review, an increase of Rs5.332 billion over preceding week’s figure of Rs2,670.389 billion. Advances by commercial banks rose to Rs2,580.152 billion against earlier week’s figure of Rs2,574.844 billion, or by Rs5.308 billion. Advances of specialized banks stood at Rs95.569 billion, larger by Rs0.024 billion over earlier week’s figure of Rs95.545 billion.

Investments of all scheduled banks decreased in the week by Rs1.863 billion to Rs1,216.702 billion against preceding week’s figure of Rs1,218.565 billion. Commercial banks investment fell to Rs1,204.303 billion, from earlier week’s Rs1,205.960 billion, or by Rs1.657 billion. Specialised banks investment stood at Rs12.399 billion, against preceding week’s Rs12.606 billion, smaller by Rs0.207 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs9.76 billion during the week to stand at Rs335.061 billion against earlier week’s Rs325.301 billion. The figure for commercial banks stood at Rs332.112 billion against preceding week’s figure of Rs322.231 billion, a rise of Rs9.881 billion, while of specialized banks it stood at Rs2.949 billion over previous week’s Rs3.070 billion.

Total assets of scheduled banks stood at Rs4,801.819 billion, smaller by Rs36.641 billion, over preceding week’s figure of Rs4,838.460 billion. Meanwhile, commercial banks assets stood at Rs4,683.711 billion, smaller by Rs38.431 billion over previous week’s figure of Rs4,722.142 billion. Specialised banks assets rose to Rs118.109 billion, or by Rs1.791 billion over previous week’s Rs116.318 billion.