According to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 8, 2007, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs1,024,739.602 million as against Rs991,255.272 million the previous week, showing a rise of Rs33,484.33 million. It is higher by Rs146,710.285 million when compared with Rs878,029.317 million the same week a year ago.

Total notes issued also rise in the current week over preceding week’s level. At Rs1,024,936.528 million it was larger by Rs33,472.274 million over Rs991,464.254 million recorded a week earlier. It shows a rise of Rs146,780.668 million when compared with Rs878,155.860 million over the corresponding week last year.

Approved foreign exchange decreased further in the week to Rs681,161.348 million falling by Rs34,866.645 million over preceding week’s Rs716,027.993 million. When compared with the corresponding week a year ago, when it stood at Rs531,797.504 million, the current week’s figure is higher by Rs149,363.844 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs150,895.284 million over preceding week’s figure of Rs147,069.743 million, a rise of Rs3,825.541 million. Compared to last year’s corresponding figure of Rs132,241.119 million, the current week’s figure is larger by Rs18,654.165 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 Rs57,855.896 million, similar to preceding week’s figure. The current week’s figure is smaller by Rs5,326.889 million over last year’s corresponding figure of Rs63,182.785 million.

There was an inflow of Rs40,504.989 million to the industrial sector during the week under review, a rise of Rs208.855 million against preceding week’s figure of Rs40,296.134 million. When compared to last year’s corresponding figure of Rs25,693.768 million, the current week’s figure is higher by Rs14,811.221 million.

The export sector received Rs99,490.545 million against previous week’s figure of Rs99,743.651 million, smaller by Rs253.106 million. Current week’s figure was smaller by Rs26,634.412 million over last year’s corresponding figure of Rs126,124.957 million.

According to the weekly statement of position of all scheduled banks for the week ended December 8, 2007, deposits and other accounts of the scheduled banks stood at Rs3,530.612 billion, smaller by Rs11.395 billion over preceding week’s figure of Rs3,542.007 billion. Commercial banks deposits showed a decrease of Rs11.227 billion over the week to Rs3,518.514 billion, against proceeding week’s Rs3,529.741 billion. Specialised banks deposits stood at Rs12.098 billion, against preceding week’s Rs12.266 billion, a fall of Rs0.168 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs444.081 billion over preceding week’s figure of Rs420.575 billion, a rise of Rs23.506 billion. This was primarily due to a rise in the borrowings by commercial banks, which rose to Rs362.968 billion against previous week’s Rs339.281 billion, or by Rs23.687 billion. Borrowings by specialized banks stood at Rs81.113 billion, against preceding week’s figure of Rs81.293 billion, a fall of Rs0.18 billion.

Gross advances stood at Rs2,570.580 billion in the week under review, an increase of Rs6.929 billion over preceding week’s figure of Rs2,563.651 billion. Advances by commercial banks rose to Rs2,475.389 billion against earlier week’s figure of Rs2,468.532 billion, or by Rs6.857 billion. Advances of specialized banks stood at Rs95.191 billion, lower by Rs0.072 billion over earlier week’s figure of Rs95.119 billion.

Investments of all scheduled banks further increased in the week by Rs15.865 billion to Rs1,233.284 billion against preceding week’s figure of Rs1,217.419 billion. Commercial banks investment rose to Rs1,220.091 billion, from earlier week’s Rs1,203.509 billion, or by Rs16.582 billion. Specialised banks investment stood at Rs13.193 billion, against preceding week’s Rs13.910 billion, smaller by Rs0.717 billion.

Cash and balances with treasury banks of all scheduled banks declined by Rs11.03 billion during the week to stand at Rs338.169 billion against earlier week’s Rs349.199 billion. The figure for commercial banks stood at Rs335.639 billion against preceding week’s figure of Rs346.624 billion, a fall of Rs10.985 billion, while of specialised banks it stood at Rs2.530 billion over previous week’s Rs2.575 billion.

Total assets of scheduled banks stood at Rs4,780.602 billion, larger by Rs10.56 billion, over preceding week’s figure of Rs4,770.042 billion. Meanwhile, commercial banks assets stood at Rs4,666.248 billion, larger by Rs10.676 billion over previous week’s figure of Rs4,655.572 billion. Specialised banks assets fell to Rs114.354 billion, or by Rs0.116 billion over previous week’s Rs114.470 billion.