February 11, 2008	Monday	Safar 03, 1429

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 26, 2008, both notes in circulation and those issued decreased in the week.

Notes in circulation stood at Rs1,040.269 billion against earlier week’s figure of Rs1,052.301 billion, a decline of Rs12.032 billion. When compared to the corresponding week a year ago when it was Rs795.237 billion, the current week’s figure is higher by Rs245.032 billion.

Total notes issued also declined in the current week over preceding week’s level. At Rs1,040.395 billion it was smaller by Rs12.105 billion over the figure of Rs1,052.500 billion recorded a week earlier. In the corresponding week last year it amounted to Rs795.420 billion, which shows current week’s figure to be higher by Rs244.975 billion over last year’s corresponding figure.

Approved foreign exchange decreased in the week to Rs673.782 billion or by Rs0.772 billion over preceding week’s figure of Rs674.554 billion. When compared to the corresponding week a year ago, when the figure was Rs436.455 billion, the current week’s figure is higher by Rs237.327 billion.

Balances held outside Pakistan in approved foreign exchange decreased in the week under review. It stood at Rs136.422 billion over preceding week’s figure of Rs142.122 billion, a fall of Rs5.7 billion. Compared to last year’s corresponding figure of Rs140.336 billion, the current week’s figure is smaller by Rs3.914 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, similar to preceding week’s figure. The current week’s figure is smaller by Rs2.931 billion over last year’s corresponding figure of Rs60.708 billion.

There was an inflow of Rs39.724 billion to the industrial sector during the week under review, a fall of Rs0.004 billion against preceding week’s figure of Rs39.728 billion. When compared to last year’s corresponding figure of Rs3.696 billion, the current week’s figure is higher by Rs36.028 billion.

The export sector received Rs97.606 billion against previous week’s figure of Rs98.735 billion, smaller by Rs1.129 billion. Current week’s figure was smaller by Rs8.284 billion over last year’s corresponding figure of Rs105.890 billion.

According to the weekly statement of position of all scheduled banks for the week ended January 26, 2008, deposits and other accounts of the scheduled banks stood at Rs3,574.788 billion, higher by Rs19.131 billion over preceding week’s figure of Rs3,555.675 billion. Commercial banks deposits showed an increase of Rs19.116 billion over the week to Rs3,562.186 billion, against preceding week’s Rs3,543.070 billion. Specialised banks deposits stood at Rs12.602 billion, against preceding week’s Rs12.588 billion, a rise of Rs0.014 billion.

Borrowings by all scheduled banks decreased during the week over preceding week’s figure. It fell to Rs427.231 billion over preceding week’s figure of Rs429.629 billion, a fall of Rs2.398 billion. This was primarily due to a drop in the borrowings by commercial banks, which fell to Rs346.199 billion against previous week’s Rs348.593 billion, or by Rs2.394 billion. Borrowings by specialised banks stood at Rs81.032 billion, against preceding week’s figure of Rs81.037 billion.

Gross advances stood at Rs2,684.089 billion in the week under review, a decrease of Rs5.15 billion over preceding week’s figure of Rs2,689.239 billion. Advances by commercial banks fell to Rs2,588.422 billion against earlier week’s figure of Rs2,593.581 billion, or by Rs5.159 billion. Advances of specialised banks stood at Rs95.667 billion, larger by Rs0.009 billion over earlier week’s figure of Rs95.658 billion.

Investments of all scheduled banks increased in the week by Rs8.74 billion to Rs1,201.526 billion against preceding week’s figure of Rs1,192.786 billion. Commercial banks investment rose to Rs1,187.941 billion, from earlier week’s Rs1,179.822 billion, or by Rs8.119 billion. Specialized banks investment stood at Rs13.585 billion, against preceding week’s Rs12.964 billion, larger by Rs0.621 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs8.546 billion during the week to stand at Rs329.250 billion against earlier week’s Rs337.796 billion. The figure for commercial banks stood at Rs326.426 billion against preceding week’s figure of Rs334.925 billion, a fall of Rs8.499 billion, while of specialised banks it stood at Rs2.824 billion over previous week’s Rs2.870 billion.

Total assets of scheduled banks stood at Rs4,818.381 billion, larger by Rs16.758 billion, over preceding week’s figure of Rs4,801.623 billion. Meanwhile, commercial banks assets stood at Rs4,701.284 billion, larger by Rs17.195 billion over previous week’s figure of Rs4,684.089 billion. Specialised banks assets fell to Rs117.097 billion, or by Rs0.436 billion over previous week’s Rs117.533 billion.