THIS is with reference to the report ‘Monetary expansion declines’ (Feb 1). I would like to highlight a discrepancy in figures of government borrowing for budgetary support from the banking system, specifically the figure of borrowing from the State Bank of Pakistan.

According to the reporter, the government has so far borrowed Rs813 billion for budgetary support, including Rs166 billion from the SBP and Rs621 billion from scheduled banks. According to the profile of broad money, published weekly on the SBP website, the figure amounts to Rs777,393 million (Rs182,581 million from the SBP and Rs594,813 million from scheduled banks). This can be verified from the SBP website link at http://sbp.org.pk/ecodata/BroadMoney_M2.pdf

MUHAMMAD EJAZ Karachi