According to the Statement of Affairs of the State Bank of Pakistan, for the week ended March 1, 2003, both notes in circulation and those issued showed a further decrease in the week under review.

Notes in circulation stood at Rs525,598.848 million against earlier week’s figure of Rs534,486.423 million, showing a fall of Rs8,887.575 million. When compared to the corresponding week a year ago when it was Rs477,709.781 million, the current week’s figure is higher by Rs47,889.067 million.

Total notes issued also recorded a fall in the current week. At Rs525,761.121 million it was lower by Rs8,907.073 million over the figure of Rs534,668.194 million recorded a week earlier. In the corresponding week last year it amounted to Rs477,853.362 million, which shows current week’s figure to be higher by Rs47,907.759 million over last year’s figure.

Approved foreign exchange declined in the week to Rs477,250.014 million, smaller by Rs1,162.488 million over preceding week’s figure of Rs478,412.502 million recorded a week earlier. When compared to the corresponding week a year ago, when the figure was Rs163,157.661 million, the current week’s figure was higher by Rs340,092.353 million.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs37,372.230 million over preceding week’s figure of Rs32,631.629 million, showing a rise of Rs4,740.601 million. Compared to last year’s corresponding figure of Rs66,348.486 million, the current week’s figure is lower by Rs28,976.256 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 Rs54,467.769 million against preceding week’s figure of Rs55,056.769, a fall of Rs589 million. The current week’s figure is lower by Rs160.328 million over last year’s corresponding figure of Rs54,307.441 million.

There was an inflow of Rs2,989.615 million to the industrial sector during the week under review, depicting a decline of Rs17.898 million over previous week’s Rs2,971.717 million. When compared to last year’s corresponding figure of Rs3,655.472 million, the current week’s figure is lower by Rs665.857 million. The export sector received Rs43,608.413 million against previous week’s figure of Rs44,958.197 million, showing a fall of Rs1,349.784 million. Current week’s figure was smaller by Rs1,336.995 million over last year’s corresponding figure of Rs44,945.408 million.

According to the weekly statement of position of scheduled banks for the week ended March 1, 2003, the sum of demand and time liabilities showed a further increase in the week under review. The sum total stood at Rs1,635,596 million against preceding week’s Rs1,626,949 million, showing a rise of Rs8,647 million. As compared to the total deposits of Rs1,382,169 million in the corresponding period last year, current week’s deposits were higher by Rs253,427 million.

During the week under review demand and time deposits increased. Demand deposits rose to Rs744,324 million, or by Rs.738 million over previous week’s Rs743,586 million. It was also, higher against last year’s corresponding figure of Rs614.340 million by Rs129,984 million.

In the current week, time deposits were higher over preceding week and against the corresponding week last year. At Rs891,272 million, it was larger by Rs7,909 million over previous week’s Rs883,363 million, and by Rs123,443 million, over last year’s corresponding figure of Rs767,829 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities declined further in the current week. At Rs132,024 million it was smaller by Rs2,850 million over preceding week’s Rs134,874 million. Compared to last year’s corresponding figure of Rs114,444 million, the current week’s figure is higher by Rs17,580 million.

Scheduled banks borrowings from banks abroad stood at Rs14,658 million in the current week, as against Rs15,441 million a week ago, showing a rise of Rs783 million. It was larger by Rs1,927 million over last year’s corresponding figure of Rs12,731 million.

Money at call and short notice in Pakistan declined further in the week under review. It stood at Rs22,761 million, a fall of Rs10 million over preceding week’s Rs22,771 million. When compared to last year’s corresponding figure of Rs48,241 million, the current figure is lower by Rs25,480 million.

Scheduled banks advances including bills purchased and discounted, declined in the week under review. At Rs983,870 million it was smaller by Rs2,195 million over preceding week’s Rs986,065 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs931,940 million, the current week’s advances are higher by Rs51,930 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities, fell in the week under review over previous week’s figure. Such investments amounted to Rs662,525 million, a fall of Rs791 million over previous week’s Rs663,316 million. Compared to last year’s corresponding figure of Rs358,573 million, the current week’s investment is higher by Rs303,952 million.

Total assets of scheduled banks rose in the week under review. These rose to Rs2,500,901 million against previous week’s Rs2,487,743 million, a rise of Rs13,158 million.

Compared to last year’s corresponding figure of Rs2,107,738 million it shows a rise of Rs393,163 million.