According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 25, 2003, both notes in circulation and those issued continued the downward trend in the week under review.

Notes in circulation stood at Rs513,376.561 million against earlier week’s figure of Rs519,860.686 million, showing a fall of Rs6,484.125 million. When compared to the corresponding week a year ago when it was Rs452,558.702 million, the current week’s figure is higher by Rs67,301.984 million.

Total notes issued also recorded a fall in the current week. At Rs513,538.347 million it was lower by Rs6,129.267 million over the figure of Rs519,667.614 million recorded a week earlier. In the corresponding week last year it amounted to Rs452,768.932 million, which shows current week’s figure to be higher by Rs60,769.415 million over last year’s figure.

Approved foreign exchange rose further in the week to Rs445,451.330 million, larger by Rs6,290.869 million over preceding week’s figure of Rs439,160.461 million recorded a week earlier. When compared to the corresponding week a year ago, when the figure was Rs149,866.874 million, the current week’s figure was higher by Rs295,584.456 million.

Balances held outside Pakistan in approved foreign exchange declined in the week under review. It stood at Rs48,445.490 million over preceding week’s figure of Rs50,475.831 million, showing a fall of Rs2,030.341 million. Compared to last year’s corresponding figure of Rs64,344.195 million, the current week’s figure is also lower by Rs15,898.705 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 Rs54,031.769 million same as the preceding week’s figure. The current week’s figure is lower by Rs974.849 million over last year’s corresponding figure of Rs55,006.618 million.

There was an inflow of Rs2,992.163 million to the industrial sector during the week under review, depicting a decline of Rs9.503 million over previous week’s Rs3,001.666 million. When compared to last year’s corresponding figure of Rs3,719.709 million, the current week’s figure is lower by Rs727.546 million.

The export sector received Rs46,538.317 million over previous week’s figure of Rs47,301.604 million, showing a fall of Rs763.287 million. Current week’s figure was lower by Rs6,182.573 million over last year’s corresponding figure of Rs52,720.890 million.

According to the weekly statement of position of scheduled banks, for the week ended January 18, 2003, the sum of demand and time liabilities increased in the week under review. The sum total stood at Rs1,591,098 million against preceding week’s Rs1,582,078 million, showing a rise of Rs9,020 million. As compared to the total deposits of Rs1,358,957 million in the corresponding period last year, current week’s deposits were higher by Rs232,141 million.

During the week under review both type of deposits increased. Demand deposits rose to Rs724,326 million, or by Rs5,548 million over previous week’s Rs718,778 million. It was also higher against last year’s corresponding figure of Rs596,675 million by Rs127,651 million.

In the current week, time deposits were higher over the preceding week and against the corresponding week last year. At Rs866,772 million, it was higher by Rs3,472 million over previous week’s Rs863,300 million, and by Rs104,490 million, over last year’s corresponding figure of Rs762,282 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 Rs137,918 million it was larger by Rs273 million over preceding week’s Rs137,645 million. Compared to last year’s corresponding figure of Rs120,611 million, the current week’s figure is higher by Rs17,307 million.

Scheduled banks borrowings from banks abroad stood at Rs13,626 million in the current week, as against Rs13,120 million a week ago, showing a rise of Rs506 million. It was smaller by Rs1,086 million over last year’s corresponding figure of Rs14,712 million.