According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 11, 2003, both notes in circulation and those issued which had declined a week earlier, increased in the current week.

Notes in circulation stood at Rs522,634.424 million against earlier week’s figure of Rs511,609.148 million, showing a rise of Rs11,025.094 million. When compared to the corresponding week a year ago when it was Rs459,243.395 million, the current week’s figure is higher by Rs63,390.847 million.

Total notes issued also recorded a rise in the current week. At Rs522,770.277 million it was larger by Rs11,004.512 million over the figure of Rs511,765.765 million recorded a week earlier. In the corresponding week last year it amounted to Rs459,387.347 million, which shows current week’s figure to be higher by Rs63,382.93 million over last year’s figure.

Approved foreign exchange rose further in the week to Rs431,429.829 million, larger by Rs17,385.369 million over preceding week’s figure of Rs414,044.460 million recorded a week earlier. When compared to the corresponding week a year ago, when the figure was Rs136,018.825 million, the current week’s figure was higher by Rs295,411.004 million.

Balances held outside Pakistan in approved foreign exchange declined in the week under review. It stood at Rs55,330.093 million over preceding week’s figure of Rs62,189.310 million, showing a fall of Rs6,859.217 million. Compared to last year’s corresponding figure of Rs75,064.987 million, the current week’s figure is however, lower by Rs19,734.894 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 Rs54,012.624 million, against preceding week’s figure of Rs53,837.623 million, showing a rise of Rs175.001 million. The current week’s figure is larger by Rs109.505 million over last year’s corresponding figure of Rs53,728.118 million.

There was an inflow of Rs3,005.377 million to the industrial sector during the week under review, depicting a decline of Rs4.218 million over previous week’s Rs3,009.595 million. When compared to last year’s corresponding figure of Rs3,754.043 million, the current week’s figure is lower by Rs748.666 million.

The export sector received Rs46,943.862 million over previous week’s figure of Rs45,969.790 million, showing a rise of Rs794.072 million. Current week’s figure was lower by Rs4,764.862 million over last year’s corresponding figure of Rs49,708.724 million.

According to the weekly statement of position of scheduled banks for the week ended January 04, 2003, the sum of demand and time liabilities declined after having maintained the increase in the past few weeks. The sum total stood at Rs1,578,960 million against preceding week’s Rs1,607,749 million, showing a fall of Rs28,789 million. As compared to the total deposits of Rs1,359,441 million in the corresponding period last year, current week’s deposits were higher by Rs219,519 million.

During the week under review both type of deposits fell. Demand deposits declined to Rs716,978 million, or by Rs12,156 million over previous week’s Rs729,134 million, and was higher against last year’s corresponding figure of Rs591,152 million by Rs125,826 million.

In the current week, time deposits were lower over the preceding week but higher against the corresponding week last year. At Rs861,982 million, it was lower by Rs16,633 million over previous week’s Rs878,615 million, but was higher by Rs93,693 million, over last year’s corresponding figure of Rs768,289 million.

Scheduled banks borrowings from the State Bank of Pakistan against promissory notes and other approved securities showed an increase in the current week. At Rs136,730 million it was larger by Rs106 million over preceding week’s Rs136,624 million. Compared to last year’s corresponding figure of Rs113,621 million, the current week’s figure is higher by Rs23,109 million.

Scheduled banks borrowings from banks abroad stood at Rs14,751 million in the current week, as against Rs15,833 million a week ago, showing a fall of Rs1,082 million. It was smaller by Rs564 million over last year’s corresponding figure of Rs15,315 million.

Money at call and short notice in Pakistan declined in the week under review. It stood at Rs30,150 million, a fall of Rs68 million over preceding week’s Rs30,218 million. When compared to last year’s corresponding figure of Rs46,167 million, the current figure is lower by Rs16,017 million.

Scheduled banks advances including bills purchased and discounted, rose further in the week under review. At Rs1,007,648 million it was larger by Rs6,530 million over preceding week’s Rs1,001,118 million. Compared to the corresponding figure a year ago, when advances were to the tune of Rs994,874 million, the current week’s advances are higher by Rs12,774 million.

Scheduled banks investment in central government securities, Treasury bills and other approved securities, have fallen in the week under review. Such investments amounted to Rs625,155 million, a decline of Rs46 million over previous week’s Rs625,201 million. Compared to last year’s corresponding figure of Rs317,023 million, the current week’s investment nearly doubled, rising by Rs308,132 million.