ON April 11, the State Bank of Pakistan picked up Rs1.96 billion for 3-month T-bills, Rs18.674bn for 6-month and Rs31.459bn for 12-month papers. It had received total bids worth Rs64bn and had accepted offers of Rs52bn.
The cut off yield on 6-month papers was raised up to 8.9 per cent from 8.85 per cent and on 12-month bills to 9.07 per cent from 9.05 per cent. On March 28, the SBP had raised the cut off yields on 3, 6 and 12 month T-bills.
According to the Statement of Affairs of the State Bank of Pakistan, for the week ended July 2March 31, 2007, both notes in circulation and those issued decreased further in the week. Notes in circulation stood at Rs879,275.043 million against earlier week’s figure of Rs886,480.143m, a fall of Rs7,205.1m. When compared to the corresponding week a year ago when it was Rs783,538.235m, the current week’s figure is higher by Rs95,736.808m.
Total notes issued also decreased in the current week over preceding week’s level. At Rs879,473.275m it was smaller by Rs7,185.49m over the figure of Rs886,658.765m recorded a week earlier. In the corresponding week last year it amounted to Rs783,689.097m, which shows current week’s figure to be higher by Rs92,784.178m over last year’s corresponding figure.
Approved foreign exchange decreased in the week to Rs581,790.231m or by Rs10,801.138m over preceding week’s figure of Rs592,591.369m. When compared to the corresponding week a year ago, when the figure was Rs456,826.965m, the current week’s figure is higher by Rs124,963.266m.
Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs137,224.452m over preceding week’s figure of Rs124,896.374m, a rise of Rs12,328.078m. Compared to last year’s corresponding figure of Rs184,797.870m, the current week’s figure smaller by Rs47,573.418m.
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 Rs60,183.528m, similar to preceding week’s figure. The current week’s figure is smaller by Rs1,467.395m over last year’s corresponding figure of Rs61,650.923m.
There was an inflow of Rs41,462.602m to the industrial sector during the week under review, a fall of Rs488.169m against preceding week’s figure of Rs41,950.771m. When compared to last year’s corresponding figure of Rs5,432.079m, the current week’s figure is higher by Rs36,030.523m.
The export sector received Rs135,736.356m against previous week’s figure of Rs135,507.685m, a rise of Rs228.671m. Current week’s figure was larger by Rs28,948.526m over last year’s corresponding figure of Rs106,787.830m.
According to the weekly statement of position of all scheduled banks for the week ended March 31, 2007, deposits and other accounts of the scheduled banks stood at Rs3,151.944bn, higher by Rs46.668bn over preceding week’s figure of Rs3,105.276bn. Commercial banks deposits showed a rise of Rs46.57bn over the week to Rs3,140.432bn, against preceding week’s Rs3,093.862bn, while of specialized banks it rose by Rs0.098bn to Rs11.512bn, over previous week’s Rs11.414bn.
Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs393.968bn over preceding week’s figure of Rs385.482bn, a rise of Rs8.486bn. This was primarily due to an increase in the borrowings by commercial banks, which rose to Rs310.624bn against previous week’s Rs301.925bn, or by Rs8.699bn, while borrowings by specialised banks stood at Rs83.343bn, against preceding week’s figure of Rs83.557bn, showing a fall of Rs0.214bn.
Gross advances stood at Rs2,385.242bn in the week under review, an increase of Rs27.225bn over preceding week’s figure of Rs2,358.017bn. Advances by commercial banks increased to Rs2,290.571bn against earlier week’s figure of Rs2,262.771bn, or by Rs27.8bn, while of specialized banks it stood at Rs94.672bn against preceding week’s Rs95.247bn, showing a fall of Rs0.575bn.
Investments of all scheduled banks declined in the week by Rs2.955bn to Rs929.454bn against preceding week’s figure of Rs932.409bn. Commercial banks investment fell to Rs918.853bn, from earlier week’s Rs921.808bn, lower by Rs2.955bn, while of specialized banks it stood at Rs10.601bn against previous week’s Rs10.602bn, lower by Rs0.001bn.
Cash and balances with treasury banks of all scheduled banks decreased by Rs9.208bn during the week to stand at Rs322.678bn against earlier week’s Rs331.886bn. The figure for commercial banks fell to Rs320.407bn against preceding week’s figure of Rs329.584bn, a fall of Rs9.177bn. For specialized banks there was a fall of Rs0.031bn to Rs2.272bn, against earlier week’s figure of Rs2.303bn.
Total assets of scheduled banks stood at Rs4,221.045bn, higher by Rs60.843bn, over preceding week’s figure of Rs4,160.202bn. Meanwhile, commercial banks assets stood at Rs4,108.360bn, higher by Rs62.029bn over previous week’s figure of Rs4,046.331bn. Specialized banks assets declined by Rs1.186bn to Rs112.685bn against previous week’s Rs113.871bn.
ON April 11, the State Bank of Pakistan picked up Rs1.96 billion for 3-month T-bills, Rs18.674bn for 6-month and Rs31.459bn for 12-month papers. It had received total bids worth Rs64bn and had accepted offers of Rs52bn.
