ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended July 2-December 23, 2006, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs884,855.438 million against earlier week’s figure of Rs880,728.504 million, a rise of Rs4,126.934 million. When compared to the corresponding week a year ago when it was Rs784,859.046 million, the current week’s figure is higher by Rs99,996.392 million.

Total notes issued also rose in the current week over preceding week’s level. At Rs885,058.345 million it was larger by Rs4,106.182 million over the figure of Rs880,852.163 million recorded a week earlier. In the corresponding week last year it amounted to Rs785,064.096 million, which shows current week’s figure to be higher by Rs99,994.249 million over last year’s corresponding figure.

Approved foreign exchange declined in the week to Rs540,613.462 million or by Rs401.245 million over preceding week’s figure of Rs541,014.707 million. When compared to the corresponding week a year ago, when the figure was Rs411,783.111 million, the current week’s figure is higher by Rs128,830.351 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs130,155.564 million over preceding week’s figure of Rs125,777.800 million, a rise of Rs4,377.764 million. Compared to last year’s corresponding figure of Rs147,913.978 million, the current week’s figure is smaller by Rs17,758.414 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 Rs63,182.785 million, similar to preceding week’s figure. The current week’s figure is larger by Rs2,055.888 million over last year’s corresponding figure of Rs61,126.897 million.

There was an inflow of Rs31,407.932 million to the industrial sector during the week under review, a rise of Rs3,704.306 million against preceding week’s figure of Rs27,703.626 million. When compared to last year’s corresponding figure of Rs2,824.246 million, the current week’s figure is higher by Rs28,583.686 million.

The export sector received Rs129,459.207 million against previous week’s figure of Rs126,999.727 million, a rise of Rs2,459.48 million. Current week’s figure was larger by Rs23,415.034 million over last year’s corresponding figure of Rs106,044.173 million.

According to the weekly statement of position of all scheduled banks for the week ended December 23, 2006, deposits and other accounts of the scheduled banks stood at Rs2,946.477 billion, higher by Rs4.534 billion over preceding week’s figure of Rs2,941.943 billon. Commercial banks deposits showed an increase of Rs4.532 billion over the week to Rs2,934.461 billion, against preceding week’s Rs2,929.929 billion, while of specialized banks it rose by Rs0.001 billion to Rs12.015 billion, over previous week’s Rs12.014 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs409.391 billion over preceding week’s figure of Rs405.113 billion, a rise of Rs4.278 billion. This was primarily due to an increase in the borrowings by commercial banks, which rose to Rs320.719 billion against previous week’s Rs316.191 billion, or by Rs4.528 billion, while borrowings by specialised banks stood at Rs88.672 billion, against preceding week’s figure of Rs88.922.

Gross advances stood at Rs2,344.610 billion in the week under review, a rise of Rs18.928 billion over preceding week’s figure of Rs2,325.682 billion. Advances by commercial banks increased to Rs2,250.313 billion against earlier week’s figure of Rs2,229.807 billion, higher by Rs20.506 billion, while of specialized banks it stood at Rs94.298 billion against preceding week’s Rs95.875 billion, showing a decline of Rs1.577 billion.

Investments of all scheduled banks decreased in the week by Rs49.47 billion to Rs777.537 billion against preceding week’s figure of Rs827.007 billion. Commercial banks investment fell to Rs761.656 billion, from earlier week’s Rs814.840 billion, lower by Rs53.184 billion, while of specialized banks it stood at Rs11.881 billion against previous week’s Rs12.167 billion, lower by Rs0.286 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs33.553 billion during the week to stand at Rs320.959 billion against earlier week’s Rs287.406 billion. The figure for commercial banks also rose to Rs318.675 billion against preceding week’s figure of Rs285.373 billion, a rise of Rs33.302 billion. For specialized banks there was a rise of Rs0.252 billion to Rs2.285 billion, against earlier week’s figure of Rs2.033 billion.

Total assets of scheduled banks stood at Rs3,955.673 billion, higher by Rs12.33 billion, over preceding week’s figure of Rs3,943.343 billion. Meanwhile, commercial banks assets stood at Rs3,838.266 billion, larger by Rs12.797 billion over previous week’s figure of Rs3,825.469 billion. Specialized banks assets fell by Rs0.467 billion to Rs117.407 billion against previous week’s Rs117.874 billion.