ON APRIL 3, the State Bank of Pakistan mopped up Rs3.693 billion through the sale of three, six and 12 months’ Treasury bills. The State Bank had received bids worth Rs 11.468 billion.

The six and one year T-bills rates were 6.48 per cent and 7 per cent respectively. Bids for three months were rejected.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended March 23, 2002, both notes in circulation and those issued continued to decline in the week under review. Notes in circulation stood at Rs461,142.764 million against preceding week’s Rs466,735.762 million, showing a fall of Rs5,592.998 million. When compared to the corresponding week a year ago when it was Rs413,888929 million, the current week’s figure is higher by Rs47,253.835 million.

Total notes issued also depicted a decline in the current week. At Rs461,251.785 million it was smaller by Rs5606.811 million over a week earlier figure of Rs466,858.596 million. In the corresponding week last year it amounted to Rs414,091.316 million, which shows current week’s figure to be higher by Rs47,160.469 million over Last year’s figure.

Approved foreign exchange continues the fall in the week under review. It stood at Rs170,835.747 million, showing a decline of Rs1,260.908 million over previous week’s Rs172,096.655 million. When compared to last year’s corresponding figure of Rs59,177.478 million, the current week’s figure is substantially higher by Rs111,658.269 million.

Balances held outside Pakistan in approved foreign exchange, recorded a further rise n the week under review. It stood at Rs61,080.701 million over preceding week’s figure of Rs58,255.664 million, showing a rise of Rs2,825.037 million. Compared to last year’s corresponding figure of Rs11,796.505 million, the current week’s figure is larger by Rs49,284.196 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 Rs54,049.441 million similar to preceding week’s figure. The current week’s figure is larger by Rs275.600 million over Last year’s corresponding figure of Rs54,325.041 million.

There was an inflow of Rs3,604.385 million to the industrial sector during the week under review, depicting a decline of Rs38.673 million over previous week’s Rs3,643.058 million. Compared to last year’s corresponding figure of Rs4,489.703 million, the current week’s figure is lower by Rs885.318 million.

The export sector received Rs55,136.521 million over previous week’s figure of Rs54,371.155 million showing a rise of Rs765.366 million. Current week’s figure was lower by Rs23,633.767 million over last year’s corresponding figure of Rs78,770.288 million.

According to the weekly statement of position of scheduled banks for the week ended March 22, the sum of demand and time liabilities felt in the week under review. The sum total stood at Rs1,398,641 million, against preceding week’s Rs1,400,281 million showing a fall of Rs1,640 million. As compared to the total deposits of Rs1,234,289 million in the corresponding period last year, current week’s deposits were higher by Rs164,352 million.

During the week under review, demand deposits rose to Rs621,329 million, or by Rs1303 million over previous week’s Rs620,026 million, and was also higher against Last year’s corresponding figure of Rs528,697 million by Rs92,632 million.

In the current week, time deposits were lower one the preceding week but higher against the corresponding week test year. At Rs777,312 million it was lower Rs2,943 million over previous week’s Rs780,255 million, and by Rs71,720 million, over last year’s corresponding figure of Rs705,592 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs126,326 million it was larger by Rs1,840 million over preceding week’s Rs124,486 million. Compared to last year’s corresponding figure of Rs143,143 million, the current week’s figure is also lower by Rs16,817 million.

Money at call and short notice in Pakistan showed a fall in the week under review. It stood at Rs45,427 million, a decline of Rs 166 million over preceding week’s Rs45,593 million. When compared to last years corresponding figure of Rs40,681 million, the current figure is higher by Rs4,746 million.

Scheduled banks advances including bills purchased and discounted, fell further in the week under review. At Rs925,578 million it was lower by Rs48,328 million over preceding week’s Rs973,906 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs919,507 million’ the current week’s advances are higher by Rs6,071 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities continued to rise in the week under review. Such investment amounted to Rs403,302 million, a rise of Rs25,821 million over previous week’s Rs377,481 million. Compared to last year’s corresponding figure of Rs260,281 million, the current week’s investment is higher by Rs143,021 million.

Total assets of scheduled banks showed an increase in the week under review. These rose to Rs2,154,175 million against previous week’s Rs2,139,031 million, showing a rise of Rs15,144 million. Compared to last year’s corresponding figure of Rs1,858,636 million it shows a rise of Rs295,539 million.