According to the Statement of Affairs of the State Bank of Pakistan, for the week ended June 21, 2003, both notes in circulation and those issued declined in the week under review after having increased in the past couple of weeks. Notes in circulation stood at Rs532,864.720 million against earlier week’s figure of Rs539,573.064 million, showing a fall of Rs6,708.344 million.

When compared to the corresponding week a year ago when it was Rs466,785.059 million, the current week’s figure is higher by Rs66,079.661 million.

Total notes issued also recorded a fall in the current week. At Rs533,044.402 million it was smaller by Rs6,701.533 million over the figure of Rs539,745.935 million recorded a week earlier. In the corresponding week last year it amounted to Rs466,933.507 million, which shows current week’s figure to be higher by Rs66,110.895 million over last year’s figure.

Approved foreign exchange also declined in the week, falling to Rs464,936.937 million, or by Rs1,367.752 million over preceding week’s figure of Rs466,304.689 million. When compared to the corresponding week a year ago, when the figure was Rs245,396.560 million, the current week’s figure was higher by Rs219,540.377 million.

Balances held outside Pakistan in approved foreign exchange showed a further increase in the week under review. It stood at Rs96,257.924 million over preceding week’s figure of Rs92,723.354 million, showing a rise of Rs3,534.57 million. Compared to last year’s corresponding figure of Rs35,390.197 million, the current week’s figure is substantially higher by Rs60,867.727 million.

Loans and advances of scheduled banks to the three sectors - agricultural, industrial and export showed a mixed picture in the week under review. The agricultural sector received Rs54,269.458 million against preceding week’s figure of Rs54,504.743 million, showing a decline of Rs235.285 million. The current week’s figure is smaller by Rs184.64 million over last year’s corresponding figure of Rs54,454.098 million.

There was an inflow of Rs2,833.057 million to the industrial sector during the week under review, depicting a decline of Rs9.519 million over previous week’s Rs2,842.576 million. When compared to last year’s corresponding figure of Rs3,437.581 million, the current week’s figure is lower by Rs604.524 million.

The export sector received Rs56,080.773 million against previous week’s figure of Rs55,499.845 million, showing a rise of Rs580.928 million. Current week’s figure was smaller by Rs3,511.138 million over last year’s corresponding figure of Rs59,591.911 million.

According to the weekly statement of position of scheduled banks for the week ended June 22, 2003, the sum of demand and time liabilities continued to rise in the week under review. The sum total stood at Rs1,719,191 million against preceding week’s Rs1,711,834 million, showing a rise of Rs7,357 million. As compared to the total deposits of Rs1,447,266 million in the corresponding period last year, current week’s deposits were higher by Rs271,925 million.

During the week under review, both demand and time deposits rose. Demand deposits rose to Rs802,774 million, showing a rise of Rs6,824 million over previous week’s Rs795,950 million. It was also higher against last year’s corresponding figure of Rs643,053 million by Rs159,721 million.

In the current week, time deposits were higher both over preceding week and against the corresponding week last year. At Rs916,417 million, it was larger by Rs533 million over previous week’s Rs915,884 million and by Rs112,204 million, over last year’s corresponding figure of Rs804,213 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities increased in the current week. At Rs135,655 million it was larger by Rs165 million over preceding week’s Rs135,490 million. Compared to last year’s corresponding figure of Rs136,149 million, the current week’s figure is smaller by Rs494 million.

Scheduled banks borrowings from banks abroad stood at Rs18,133 million in the current week, as against Rs18,161 million a week ago, showing a fall of Rs28 million. It was larger by Rs5,229 million over last year’s corresponding figure of Rs12,904 million.

Money at call and short notice in Pakistan declined in the week under review. It stood at Rs26,616 million, a rise of Rs1,065 million over preceding week’s Rs25,551 million. When compared to last year’s corresponding figure of Rs34,656 million, the current figure is lower by Rs8,040 million.

Scheduled banks advances including bills purchased and discounted, increased further in the week under review. At Rs1,045,191 million it was larger by Rs1,509 million over preceding week’s Rs1,043,682 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs949,777 million, the current week’s advances are higher by Rs95,414 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities increased in the current week when compared to preceding week’s level. Such investments amounted to Rs699,963 million, a rise of Rs8,237 million over previous week’s Rs691,726 million. Compared to last year’s corresponding figure of Rs472,965 million, the current week’s investment is higher by Rs226,998 million.

Total assets of scheduled banks increased in the week under review. These stood at Rs2,606,843 million against previous week’s Rs2,597,642 million, a rise of Rs9,201 million. Compared to last year’s corresponding figure of Rs2,236,233 million it shows a rise of Rs370,610 million.