According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 5, 2002, both notes in circulation and those issued continued to decline in the week, as against a rise witnessed earlier.

Notes in circulation stood at Rs451,204.287 million against preceding week’s Rs457,545.727 million, showing a fall of Rs6,341.44 million. When compared to the corresponding week a year ago it was Rs422,914.428 million, the current week’s figure is higher by Rs28,289.859 million.

Total notes issued also showed a decline in the current week. At Rs451,391.753 million it was smaller by Rs6,325.519 million over a week earlier figure of Rs457,717.272 million. In the corresponding week last year it amounted to Rs423,101.684 million, which shows current week’s figure to be higher by Rs28,290.069 million over last year’s figure.

Approved foreign exchange showed substantial rise in the week under review. It stood at Rs143,844.815 million showing an increase of Rs15,267.875 million over previous week’s Rs128,576.940 million. When compared to last year’s corresponding figure of Rs55,161.338 million, the current week’s figure is substantially higher by Rs88,683.477 million.

Balances held outside Pakistan in approved foreign exchange, fell in the week under review. It stood at Rs67,768.605 million over preceding week’s figure of Rs90,552.430 million, showing a fall of Rs22,783.825 million. Compared to List year’s corresponding figure of Rs16,202.818 million the current week’s figure is larger by Rs51,565.787 million.

Loans and advances of scheduled banks to the three sectors, agricultural, industrial and export show a mixed picture in the week under review. The agricultural sector received Rs53,728.118 million, against preceding week’s Rs53,777.369 million showing a decline of Rs49.251 million. The current week’s figure is smaller by Rs1,270.414 million over last year’s corresponding figure of Rs54,998.532 million.

There was an inflow of Rs3,769.143 million in the industrial sector during the week under review, depicting a decline of Rs59.475 million over previous week’s Rs3,828.618 million. Compared to last year’s corresponding figure of Rs4,663.561 million, the current week’s figure is lower by Rs894.418 million.

The export sector received Rs46,547.809 million over previous week’s figure of Rs50,212.409 million, showing a fell of Rs3,664.6 million. Current week’s figure was lower by Rs32,859.566 million over last year’s corresponding figure of Rs79,407.375 million.