It may be pointed out that against the total market maturities of MTBs/OMOs amounting to Rs541.8 billion, the MTB auction target of Rs565.0 billion has an incremental amount of only Rs23.2 billion for the whole of third quarter in which six fortnightly MTB auctions would be conducted by the State Bank. Total maturities for the quarter include Rs517.8 billion MTB maturities and Rs24.0 billion against OMO maturities.
According to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 27, 2008, both notes in circulation and those issued decreased further in the week. Notes in circulation stood at Rs1,225.792 billion against earlier week’s figure of Rs1,238.953 billion, a fall of Rs13.161 billion. When compared to the corresponding week a year ago when it was Rs1,076.328 billion, the current week’s figure is higher by Rs149.464 billion.
Total notes issued also decreased in the current week over preceding week’s level. At Rs1,225.997 billion it was smaller by Rs13.103 billion over the figure of Rs1,239.100 billion recorded a week earlier. In the corresponding week last year it amounted to Rs1,076.516 billion, which shows current week’s figure to be higher by Rs149.481 billion over last year’s corresponding figure.
Approved foreign exchange decreased further in the week to Rs134.471 billion or by Rs30.529 billion over preceding week’s figure of Rs165.000 billion. When compared to the corresponding week a year ago, when the figure was Rs686.249 billion, the current week’s figure is lower by Rs551.778 billion.
Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs410.477 billion over preceding week’s figure of Rs365.560 billion, a rise of Rs44.917 billion. Compared to last year’s corresponding figure of Rs151.435 billion, the current week’s figure is larger by Rs259.042 billion.
Loans and advances of scheduled banks to the three sectors – agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs58.229 billion, similar to preceding week’s figure. The current week’s figure is larger by Rs0.453 billion over last year’s corresponding figure of Rs57.776 billion.
There was an inflow of Rs36.433 billion to the industrial sector during the week under review, a rise of Rs0.068 billion against preceding week’s figure of Rs36.365 billion. When compared to last year’s corresponding figure of Rs40.386 billion, the current week’s figure is smaller by Rs3.953 billion.
The export sector received Rs154.529 billion against previous week’s figure of Rs154.422 billion, higher by Rs0.107 billion. Current week’s figure was larger by Rs54.469 billion over last year’s corresponding figure of Rs100.060 billion.
According to the weekly statement of position of all scheduled banks for the week ended January 03, 2009, deposits and other accounts of the scheduled banks rose in the current week and stood at Rs3,860.823 billion, higher by Rs59.412 billion over preceding week’s figure of Rs3,801.411 billion. Compared with last year’s corresponding figure of Rs3,594.686 billion, the current week’s figure is larger by Rs266.137 billion. During the current week, commercial banks deposits showed a rise of Rs58.762 billion over the week to Rs3,848.720 billion, against preceding week’s Rs3,789.958 billion. Specialized banks deposits stood at Rs12.103 billion, against preceding week’s Rs11.453 billion, a rise of Rs0.65 billion.
Borrowings by all scheduled banks decreased in the week. It fell to Rs418.874 billion over preceding week’s figure of Rs426.065 billion, a fall of Rs7.191 billion. Compared to last year’s corresponding figure of Rs413.102 billion, current week’s figure is larger by Rs5.772 billion. Commercial banks borrowings fell to Rs337.700 billion against previous week’s Rs344.891 billion, or by Rs7.191 billion. Borrowings by specialized banks stood at Rs81.174 billion similar to preceding week’s figure.
Gross advances stood at Rs3,162.937 billion in the week under review, a rise of Rs21.909 billion over preceding week’s figure of Rs3,141.028 billion. Compared to last year’s corresponding figure of Rs2,670.389 billion, current week’s figure is larger by Rs492.548 billion. In the week under review, advances by commercial banks rose to Rs3,062.160 billion against earlier week’s figure of Rs3,040.517 billion, or by Rs21.643 billion. Advances of specialised banks stood at Rs100.777 billion, larger by Rs0.266 billion over earlier week’s figure of Rs100.511 billion.
Investments of all scheduled banks increased in the week by Rs16.335 billion to Rs997.319 billion against preceding week’s figure of Rs980.984 billion. Compared to last year’s corresponding figure of Rs1,216.702 billion, current week’s figure is smaller by Rs219.383 billion. In the current week, commercial banks investment increased to Rs988.293 billion, from earlier week’s Rs972.405 billion, or by Rs15.888 billion. Specialised banks investment stood at Rs9.026 billion, against preceding week’s Rs8.578 billion, higher by Rs0.448 billion.
Cash and balances with treasury banks of all scheduled banks rose by Rs12.801 billion during the week to stand at Rs372.086 billion against earlier week’s Rs359.285 billion. Current week’s figure is higher by Rs46.785 billion compared to last year’s corresponding figure of Rs325.301 billion. In the current week, the figure for commercial banks stood at Rs369.281 billion against preceding week’s figure of Rs356.726 billion, a rise of Rs12.555 billion, while of specialized banks it stood at Rs2.805 billion over previous week’s Rs2.559 billion.