The overnight rates rose marginally during the day and closed at 6.0 – 6.5 per cent, compared with the previous day’s close of around 5.5 per cent.
According to the weekly statement of position of scheduled banks for the week ended July 2, 2005, the sum of demand and time liabilities rose in the week under review. The sum total stood at Rs2,553,390 million against preceding week’s Rs2,471,637 million, a rise of Rs81,753 million. As compared to the total deposits of Rs2,122,683 million in the corresponding period last year, current week’s deposits were higher by Rs430,707 million.
During the week under review, demand deposits stood at Rs1,294,221 million, a rise of Rs64,452 million over previous week’s Rs1,229,769 million. It was also higher against last year’s corresponding figure of Rs1,071,347 million by Rs222,874 million.
Time deposits rose in the current week. At Rs1,259,169 million it was higher by Rs17,301 million over previous week’s Rs1,241,868 million and by Rs207,833 million over last year’s corresponding figure of Rs1,051,336 million.
Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities rose in the current week. At Rs188,874 million it was higher by Rs722 million over preceding week’s Rs188,152 million. Compared to last year’s corresponding figure of Rs162,614 million, the current week’s figure is higher by Rs26,260 million.
Scheduled banks borrowings from banks abroad stood at Rs6,534 million in the current week, as against Rs8,047 million a week ago, a fall of Rs1,513 million. It was also lower by Rs3,193 million over last year’s corresponding figure of Rs9,727 million.
Money at call and short notice in Pakistan fell in the week under review as against previous week’s figure. It stood at Rs20,394 million, a fall of Rs1,162 million over preceding week’s Rs21,556 million. When compared to last year’s corresponding figure of Rs31,125 million, the current week’s figure is smaller by Rs10,731 million.
Scheduled banks’ advances including bills purchased and discounted increased in the week under review. At Rs1,787,351 million it was higher by Rs27,601 million over preceding week’s Rs1,759,750 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs1,343,260 million, the current week’s advances are higher by Rs444,091 million.
Scheduled banks investment in central government securities, the Treasury bills and other approved securities showed a rise in the current week when compared to preceding week’s level. Such investments amounted to Rs742,402 million, a rise of Rs26,283 million over previous week’s Rs716,119 million. Compared to last year’s corresponding figure of Rs781,103 million, the current week’s investment is lower by Rs38,701 million.
Total assets of scheduled banks rose in the week under review. These stood at Rs3,600,894 million against previous week’s Rs3,504,953 million, a rise of Rs95,941 million. Compared to last year’s corresponding figure of Rs2,990,008 million, it shows a rise of Rs610,886 million.