According to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 21, 2002, both notes in circulation and those issued, which had risen in the past few weeks, declined.

Notes in circulation stood at Rs525,328.587 million against earlier week’s figure of Rs534,329.315 million, showing a fall of Rs9,000.728 million. When compared to the corresponding week a year ago when it was Rs468,966.531 million, the current week’s figure is higher by Rs56,362.056 million.

Total notes issued also recorded a decline in the current week. At Rs525,512.442 million it was smaller by Rs9,006.495 million over the figure of Rs534,518.937 million recorded a week earlier. In the corresponding week last year it amounted to Rs469,077.530 million, which shows current week’s figure to be higher by Rs56,434.912 million over last year’s figure.

Approved foreign exchange rose further in the week to Rs387,738.003 million, larger by Rs476.165 million over preceding week’s figure of Rs387,261.838 million recorded a week earlier. When compared to the corresponding week a year ago, when the figure was Rs138,211.673 million, the current week’s figure was higher by Rs249,526.33 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs60,274.416 million over preceding week’s figure of Rs42,364.864 million, showing a rise of Rs17,909.552 million. Compared to last year’s corresponding figure of Rs70,194.138 million, the current week’s figure is however, lower by Rs9,919.722 million.

Loans and advances of scheduled banks to the three sectors — agricultural, industrial and export showed a mixed picture in the week under review. The agricultural sector received Rs54,064.188 million, similar to preceding week. The current week’s figure is larger by Rs196.819 million over last year’s corresponding figure of Rs53,867.369 million.

There was an inflow of Rs3,178.692 million to the industrial sector during the week under review, depicting a decline of Rs7.052 million over previous week’s Rs3,185.744 million. When compared to last year’s corresponding figure of Rs3,876.755 million, the current week’s figure is lower by Rs698.063 million.

The export sector received Rs45,042.306 million over previous week’s figure of Rs45,119.565 million, showing a fall of Rs77.229 million. Current week’s figure was lower by Rs4,144.524 million over last year’s corresponding figure of Rs49,186.830 million.

According to the weekly statement of position of scheduled banks for the week ended December 21, 2002, the sum of demand and time liabilities maintained the increase in the week under review. The sum total stood at Rs1,607,537 million against preceding week’s Rs1,594,773 million, showing a rise of Rs12,764 million. As compared to the total deposits of Rs1,353,844 million in the corresponding period last year, current week’s deposits were higher by Rs253,693 million.

During the week under review both type of deposits rose. Demand deposits rose to Rs718,508 million, or by Rs5,471 million over previous week’s Rs713,037 million, and was higher against last year’s corresponding figure of Rs595,487 million by Rs123,021 million.

In the current week, time deposits were higher over the preceding week and also against the corresponding week last year. At Rs889,029 million, it was larger by Rs7,293 million over previous week’s Rs881,736 million, and by Rs130,672 million, over last year’s corresponding figure of Rs758,357 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities declined in the current week. At Rs136,213 million it was smaller by Rs259 million over preceding week’s Rs136,472 million. Compared to last year’s corresponding figure of Rs118,910 million, the current week’s figure is higher by Rs17,303 million.

Scheduled banks borrowings from banks abroad stood at Rs14,590 million in the current week, as against Rs14,704 million a week ago, showing a decline of Rs114 million. It was smaller by Rs899 million over last year’s corresponding figure of Rs15,489 million.

Money at call and short notice in Pakistan rose in the week under review. It stood at Rs30,796 million, a rise of Rs2,157 million over preceding week’s Rs28,639 million. When compared to last year’s corresponding figure of Rs46,393 million, the current figure is lower by Rs15,597 million.

Scheduled banks advances including bills purchased and discounted, rose further in the week under review. At Rs993,994 million it was larger by Rs7,550 million over preceding week’s Rs986,444 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs971,494 million, the current week’s advances are higher by Rs22,500 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities, declined slightly in the week under review. Such investments amounted to Rs617,062 million, a fall of Rs428 million over previous week’s Rs617,490 million. Compared to last year’s corresponding figure of Rs314,323 million, the current week’s investment nearly doubled, rising by Rs302,739 million.