The government raised Rs404.98bn from the auction of Pakistan Market Treasury Bills of various tenors held last Thursday, surpassing the auction target of Rs200.00bn. However, it fell short of the offered amount of Rs716.42bn.

Of the total, six month T-bills fetched the highest amount Rs227.65bn at a cut off yield of 5.84pc, followed by 12 month T-bills with Rs106.996bn at 5.86pc and three month T bills Rs70.33bn at 5.81pc.

Six month T-Bill had attracted the highest amount Rs365.58bn, followed by 12 month T bill Rs202.84bn, and three month T-bill Rs148.00bn.

Investments of all scheduled banks fell by 0.13pc

On Tuesday last, the government injected Rs38.25bn into the banking system through the open market operation. The offered amount was much higher Rs192.20bn.The amount was accepted at 5.80pc for a tenor of three days.

According to the weekly statement of position of all scheduled banks for the week ended July 04, 2016, deposits and other accounts of all scheduled banks decreased and stood at Rs10,214.53bn, over preceding week’s figure of Rs10,463. 97bn, a fall of 2.38pc. Compared with last year’s corresponding figure of Rs9,199.80bn, the current week’s figure is higher by 11.03pc.

Deposits and other accounts of all commercial banks stood at Rs10,161.16bn against preceding week’s deposits of Rs10,410. 14bn, showing a fall of 2.40pc. Deposits and other accounts of specialised banks stood at Rs53.37bn, against previous week’s figure of Rs48.32bn.

Investments of all scheduled banks stood at Rs7,582.20bn, against preceding week’s figure of Rs7,592.28bn, a fall of 0.13pc. Compared to last year’s corresponding figure of Rs5,985.96bn, current week’s figure is higher by 26.67pc.

Investments by all commercial banks stood at Rs7,542.56bn, against preceding week’s figure of Rs7,552.92bn, a fall of 0.14pc. Compared to last year’s corresponding figure of Rs5959.104bn, current week’s figure is higher by 26.57pc.

Investment by all specialised banks stood at Rs39.65bn, against preceding week’s figure of Rs39.36bn.

Cash and balances with treasury banks of all scheduled banks increased over the week and stood at Rs953.63bn against previous week’s Rs764.51bn, showing an increase of 24.74pc. Current week’s figure was higher by23.81pc compared to last year’s corresponding figure of Rs770.20bn.

Cash and balances of all commercial banks stood at Rs950.40bn, higher by 25.00pc over previous week’s Rs760.35bn.

Published in Dawn, Business & Finance weekly, July 25th, 2016