THE government raised Rs603.39 billion from the auction on Thursday of Treasury bills of various tenors. The amount exceeded the target of Rs600bn, however, it was lower against the received bids of Rs638.7bn.

Of the total raised amount, three-month T-bills fetched the highest amount of Rs499.427bn at a cut-off yield of 5.991 per cent, followed by six-month T-bills Rs103.96bn at 6.0109pc. Bids for 12-month T-bills were rejected.

Three-month papers attracted the highest amount of Rs523.69bn, followed by six-month tenor Rs115.37bn.

According to the weekly statement of position of all scheduled banks for the week ended Aug 4, deposits and other accounts of all scheduled banks stood at Rs11.62 trillion, a decrease of 0.69pc over the preceding week’s Rs11.7tr.

Deposits and other accounts of all commercial banks stood at Rs11.55tr against preceding week’s deposits of Rs11.63tr, showing a fall of 0.69pc.

Deposits and other accounts of specialised banks stood at Rs72.049bn, lower by 0.28pc against previous week’s Rs72.25bn.

Total assets of all scheduled banks stood at Rs16.17tr, lower by 0.37pc over preceding week’s figure of Rs16.2tr, but higher by 17.26pc compared to last year’s Rs13.79tr.

Investments rise 1.12pc to Rs8.079tr

Total assets of all commercial banks stood at Rs15.92tr, lower by 0.36pc over previous week’s figure of Rs15.98tr, while total assets of specialised banks at Rs246.3bn, lower by 0.7pc over the previous week’s Rs248.05bn.

Borrowings by all scheduled banks rose by 1.02pc to Rs2.454tr against previous week’s Rs2.429tr and by 49.7pc compared to last year’s Rs1.639tr.

Borrowings by commercial banks in the week were Rs2.372tr, higher by 1.07pc against previous week’s Rs2.347tr. Borrowings by specialised banks stood at Rs82.167bn against the previous week’s Rs82.701bn.

Investments of all scheduled banks stood at Rs8.079tr, a rise of 1.12pc over preceding week’s figure of Rs7.989tr and of 14.44pc compared to last year’s Rs7.059tr.

Investments by all commercial banks stood at Rs8.025tr, higher by 1.14pc against preceding week’s figure of Rs7.935tr, whereas investment by all specialised banks stood at Rs53.159bn against preceding week’s figure of Rs54.044bn.

Published in Dawn, The Business and Finance Weekly, August 21st, 2017