ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended May 7, 2005, both notes in circulation and issued increased. Notes in circulation stood at Rs723,971.223 million against earlier week’s figure of Rs706,713.731 million, a rise of Rs17,257.492 million.

When compared to the corresponding week a year ago when it was Rs630,489.708 million, the current week’s figure is higher by Rs93, 483.515 million. Total notes issued also rose in the current week over preceding week’s level. At Rs724,101.136 million it was higher by Rs17,177.908 million over Rs706,923.228 million recorded a week earlier. In the corresponding week last year it amounted to Rs630,655.128 million, which shows current figure to be higher by Rs93,446.008 million.

Approved foreign exchange rose in the week to Rs512,197.450 million or by Rs6,062.214 million over preceding week’s figure of Rs506,135.236 million. When compared to the corresponding week a year ago, when the figure was Rs454,715.502 million, the current week’s figure was higher by Rs57,481.948 million.

Balances held outside Pakistan in approved foreign exchange decreased in the week under review. It stood at Rs114,483.443 million over preceding week’s figure of Rs127,377.302 million, a fall of Rs17,106.141 million. Compared to last year’s corresponding figure of Rs193,341.772 million, the current week’s figure is smaller by Rs78,858.329 million.

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 Rs59,576.437 million, similar to preceding week’s figure. The current week’s figure is larger by Rs3,620.898 million over last year’s corresponding figure of Rs55,955.539 million.

There was an inflow of Rs1,318.991 million to the industrial sector during the week under review, against preceding week’s figure of Rs1,317.064 million, a rise of Rs1.927 million. When compared to last year’s corresponding figure of Rs2,363.904 million, the current week’s figure is lower by Rs1,044.913 million.

The export sector received Rs110,541.803 million against previous week’s figure of Rs110,571.179 million, a fall of Rs29.376 million. Current week’s figure was larger by Rs25,848.447 million over last year’s corresponding figure of Rs84,693.356 million.

According to the weekly statement of position of scheduled banks for the week ended May 7, 2005, the sum of demand and time liabilities fell in the week under review. The sum total stood at Rs2,380,971 million against preceding week’s Rs2,400,295 million, a fall of Rs19,324 million. As compared to the total deposits of Rs1,994,055 million in the corresponding period last year, current week’s deposits were higher by Rs386,916 million.

During the week under review, demand deposits stood at Rs1,206,101 million, a fall of Rs14,681 million over previous week’s Rs1,220,782 million. It was however, higher against last year’s corresponding figure of Rs990,689 million by Rs215,412 million.

Time deposits also fell in the current week. At Rs1,174,870 million it was smaller by Rs4,643 million over previous week’s Rs1,179,513 million but higher by Rs171,504 million over last year’s corresponding figure of Rs1,003,366 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities fell in the current week. At Rs188,149 million it was smaller by Rs284 million over preceding week’s Rs188,433 million. Compared to last year’s corresponding figure of Rs156,508 million, the current week’s figure is higher by Rs31,641 million.

Scheduled banks borrowings from banks abroad stood at Rs5,652 million in the current week, as against Rs5,993 million a week ago, a fall of Rs341 million. It was however, higher by Rs1,355 million over last year’s corresponding figure of Rs4,297 million.

Money at call and short notice in Pakistan rose in the week under review as against previous week’s figure. It stood at Rs27,916 million, a rise of Rs3,080 million over preceding week’s Rs24,836 million. When compared to last year’s corresponding figure of Rs24,355 million, the current week’s figure is higher by Rs3,561 million.

Scheduled banks’ advances including bills purchased and discounted increased in the week under review. At Rs1,728,572 million it was higher by Rs7,599 million over preceding week’s Rs1,720,973 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,255,514 million, the current week’s advances are higher by Rs473,058 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities showed a fall in the current week when compared to preceding week’s level. Such investments amounted to Rs669,832 million, a fall of Rs1,158 million over previous week’s Rs670,990 million. Compared to last year’s corresponding figure of Rs770,530 million, the current week’s investment is smaller by Rs100,698 million.

Total assets of scheduled banks fell in the week under review. These stood at Rs3,401,824 million against previous week’s Rs3,422,581 million, a fall of Rs20,757 million. Compared to last year’s corresponding figure of Rs2,824,544 million, it shows a rise of Rs577,280 million.