Académique Documents
Professionnel Documents
Culture Documents
81
FY 05
13.9
34.36
22.15
9.22
19.12
FY 06
11.63
23.47
16.05
11.52
15.07
FY 07
11.14
17.3
14.23
38.65
19.32
Jul-May*
2006-07
22.29
12.23
14.67
11.9
14.09
(Percent)
Jul-May*
2007-08
45.66
14.91
21.32
-29.43
9.03
Source: SBP
the remaining Rs 50 billion was to come from nonbanking sources. The domestic and external shocks
not only increased the size of the fiscal deficit but
they also changed the composition of financing.
The borrowing requirements increased from Rs.
324 billion (the net of privatization proceeds) to
Rs. 683.4 billion (with no privatization proceeds)an increase of 111 percent. External resource
inflows were adversely affected by these shocks
and against the budgeted level of Rs.193 billion,
83
Total borrowings
551
From SBP
600
400
212
Rs.billion 200
98
99
178
161
102
35
191
362
170
22
-59
-189
-1
-200
-400
Jul-1Dec 07
Jul-12May 07
FY 07
Q1 FY 08
Target
Jul-10May 08
Offered
Accepted
180
160
140
120
Rs. billion
100
80
60
40
20
0
2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008
Jul
84
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
84.59
92.8
50
0
-50
Rs.billion
-100
-71.4
-99.9
-150
-200
-250
-300
-289.8
Jul-Dec FY07
Jul-May FY07
Jul-Jun FY07
40
35
30
25
Percent
20
15
10
5
0
34.3
34.4
23.5
17.3
12.8
FY 03
FY 04
FY 05
FY 06
FY 07
14.9
FY 08
31
29
27
25
23
21
19
17
15
1991-921992-931993-941994-951995-961996-971997-981998-991999002000-012001-022002-032003-042004-052005-062006-07
85
86
(Rs.billion)
Jul-Mar
FY07
267.5
203.2
10.5
0.3
119.0
21.6
12.3
10.3
15.9
13.9
18.4
2.9
0.6
38.8
4.1
20.8
FY08
368.0
304.7
12.1
4.7
193.1
94.2
37.3
15.0
28.5
4.0
10.0
-1.2
0.5
21.2
-0.6
42.2
Source:SBP
(Rs.billion)
Total
95.1
65.1
8.8
14.9
13.9
20.6
6.9
30
43.5
39.6
3.9
138.6
Source:SBP
87
Monetary Assets
End June
20062007
740,390840,181
(Rs.billion)
Change During
Jul-Mar
FY 07 FY 08
910.2
7.63.4
71.8
-0.40.7
11.90.4
-0.10.1
35.216.6
Source:SBP
(Rs million)
July-May*
2006-072007-08
874,1711,026,284
A. Currency in Circulation
Deposit of which:
B. Other Deposits with SBP4,9317,0126,1134,341
C.Total Demand &Time Deposits incl.RFCDs2,661,5843,217,9623,006,7453,411,470
of which RFCDs195,501207,312199,955234,882
Monetary Assets Stock (M2) A+B+C3,406,9054,065,1553,887,0294,432,041
Memorandum Items
Currency/Money Ratio21.720.722.523.2
Other Deposits/Money ratio0.10.20.20.1
Total Deposits/Money ratio78.179.277.477.0
RFCD/Money ratio5.75.15.15.3
Income Velocity of Money2.12
*pertains to 10th May for F08 and 12th May for FY07Source:SBP
Note: Compilation of M1 based on weekly data has been discontinued. Now M1 is being compiled on the basis of
monthly returns and is given in Table 2.1 which would be published in the monthly Statistical Bulletin of SBP from
April 2008 in Table 2.1.
i. Excluding IMF A/c No 1 & 2 SAF Loans A/c, deposits money banks, counterpart funds, deposits of foreign
central bans, foreign governments.
ii. Excluding inter-bank deposits of federal and provincial governments and foreign constituents and international
organizations etc.
iii. Income Velocity of money is defined by the State Bank as GDP at current factor cost/quarterly average of
Monetary Assets (M2)
Currency in Circulation
As shown in the Table 6.6, currency in circulation
during July-May FY 08 increased to Rs.186 billion
from Rs.133 billion during the same period of last
year. The currency in circulation constituted 23.2
88
Source:SBP
Monetary Management
The Money market in Pakistan has developed
substantially since the process of liberalization of
the financial system began in the early 1990s.A
vibrant inter-bank money market not only helps to
transmit monetary policy signals but also provides
stability to financial institutions through meeting
short-term liquidity requirement with relative ease
and at competitive rates. The focus of SBPs
monetary management in FY08 was to improve the
transmission of policy rates to the retail rates by
draining the excess liquidity from the money
market and keeping the overnight rates close to the
discount rate. The tight monetary stance adopted
since April 2005, did help in containing
inflationarypressuresintheeconomy.
Nevertheless, high monetary growth towards the
end of FY07 and substantial increase in
Source:SBP
89
10.5
6-Months
10
79.5
80
12-Months
9.5
FY 07
71.3
FY 08
60
9
Percent
Percent
40
8.5
19.1
20
7.5
9.1
9.6
3-Months
Accepted
11.4
6-Months
12-Months
(Rs million)
Offered
*W.A Rate
3-Months186,652136,1028.5
6-Months125,48390,4338.7
12-Months
787,636661,7869.0
Total 1,099,771888,321
* Average of maximum and minimum rates
FY 07
182,802
99,320
561,683
843,805
FY 08
49,625
64,325
568,790
682,740
Jul-Mar
Accepted
FY 07
133,152
66,920
496,433
696,505
FY 08
45,225
56,395
393,605
495,225
*W.A Rate
FY 07 FY 08
8.59.1
8.69.4
8.99.6
Source:SBP
90
FY 07
14
12
FY 08
40
35
30
Percent
25
20
15
10
5
0
10
Percent8
6
4
2
0
Aug-02
Aug-03
Aug-04
Aug-05
Aug-06
Aug-07
3 Yrs
5 Yrs
10 Yrs
15 Yrs
20 Yrs
30 Yrs
(Rs.million)
Offered
FY 07FY 08
21,77011,044
17,40721,177
26,03058,805
9,85014,876
13,1509,550
12,00017,600
100,207 133,052
Jul-Mar
Accepted
FY 07FY 08
3,9824,953
4,52310,777
12,17023,038
4,3007,801
4,0007,850
8,00014,400
36,97568,819
*W.A Rate
FY 07 FY 08
9.5310.11
9.8210.30
10.1810.81
11.0111.49
11.3911.69
11.6811.91
Source:SBP
Table-5.11 Lending & Deposit Rates (W.A)
LRDRSpread
Jun-069.92.97.0
Jul-0610.23.17.2
Aug-0610.63.17.5
Sep-0611.03.27.8
Oct-0611.13.47.7
Nov-0611.03.67.4
Dec-0611.23.77.5
Jan-0710.73.76.9
Feb-0710.53.86.7
Mar-0710.63.96.6
Apr-0710.63.96.7
May-0710.64.06.5
Jun-0710.34.06.3
Jul-0710.44.06.4
Aug-0710.54.16.4
Sep-0710.54.16.3
Oct-0711.04.16.8
Nov-0710.74.16.6
Dec-0711.04.16.8
Jan-0810.84.26.6
Feb-0810.84.26.6
Mar-0810.94.26.7
Source:SBP
Commercial Banks
The impressive performance of Pakistans banking
sector has attracted considerable FDI into the
industry in recent years. Commercial banks in
Pakistan operate on a sound capital base with a
commendable record of financial performance,
particularly in the last 3 years.
In Jul-Dec 2007-08, total number of branches of
banks was 8233 as compared to 7890 in 2006-07;
there has been an increase of 343 branches in the
first six months of FY07.Assets of all banks
showed a net expansion of Rs.203.1 billion in the
first six months of FY08 and stood at Rs.5155
billion as compared to Rs.4351 billion in the same
period of last year. An acceleration in private
sector credit contributed to increase in scheduled
banks assets. The total deposits of all banks
registered an increase of Rs.168 billion in the first
92
FY03
37,936
15,973
46,842
1,987
854
57,180
160,772
CY 03
78,803
21,562
150,330
250,695
FY04
35,568
18,026
44,806
1,341
1,005
103,080
203,826
CY 04
94,752
19,493
172,992
287,237
FY05
51,041
21,572
53,635
1,504
3,200
136,245
267,197
CY 05
107,811
18,657
201,665
328,133
(Rs.million)
FY06FY07
54,52741,458
23,92725,186
63,99963,956
1,8341,417
4,1314,061
177,234 313,661
325,652 449,739
CY 06CY 07
116,939n.a.
19,702n.a.
244,657n.a.
381,298
Source:SBP
banking system.
7890
1696
5625
534
35
4952
964
3611
123
253.8
2498.9
464.7
1838.4
71.5
124.2
3683.7
756
2745.2
13.6
168.9
1180.3
243.9
879.7
14.9
41.8
Jul-Dec
2006-07
7852
1690
5597
534
31
4351.9
836.2
3173
119
223.8
2427.7
429.7
1807.2
70.6
120.2
3255
665.6
2425.8
13.5
150.1
836.7
179.9
601.7
16.6
38.5
2007-08
8233
1715
5935
534
49
5155.1
1017.2
3845.2
119.9
172.9
2694
488.7
2044.4
72.2
88.7
3852
813.1
2907.8
13.5
117.6
1275.5
298.7
934.5
15.8
26.5
Source:SBP
93
Islamic banks
FY03
FY04
FY05
FY06
FY07
12,915
8,397
0.50%
0.40%
44,143
30,185
1.40%
1.25
71,493
49,932
2.10%
1.90%
119,294
83,740
2.90%
2.80%
205,212
146,945
4.20%
4.10%
FY06
48.4
29.7
0.8
14.8
1.9
1.4
3
(Rs.million)
FY08
(March)
200,415
141,933
4.10%
3.90%
FY07
38.9
25.4
0.9
0.3
25.1
1.4
0.9
7.1
FY08(March)
38.7
24.2
1.3
0.2
24.8
1.6
2.4
6.7
313.7
300
250
Rs.billion
200
177.2
136.2
112.6
129.1
150.3
173.0
100
50
103.1
100
50
201.7
200
Rs.billion
150
150
244.7
250
25.3
24.2
29.1
57.2
0
CY 01
CY 02
CY 03
CY 04
CY 05
CY 06
0
FY 00 FY01 FY02 FY03 FY04 FY05 FY06 FY07
Insurance Sector
The role of the insurance sector is significant in
promoting the stability, not just of the financial
sector, but also of the overall macroeconomic
environment as it provides protection against
uncertainty to economic agents by an equitable
transfer of risk. Life insurance companies in
particular, due to the long term nature of their
premiums, are also among the large institutional
investors for capital and money market
instruments.
96
Table 5.1
COMPONENTS OF MONETARY ASSETS
Stock Rs. in million
1.
Currency Issued
2.
3.
4.
5.
6.
7.
8.
9.
2001
2002
2003
2004
2005
2006
2007
396,548
462,095
527,557
617,508
712,480
791,834
901,401
FY 08
March 07 Mar-08 (P)
887,301
1,048,617
1,905
1,865
2,565
2,960
3,107
3,005
3,148
3,162
2,855
19,178
26,414
30,415
36,432
43,472
48,439
58,072
49,615
63,761
375,465
433,816
494,577
578,116
665,901
740,390
840,181
834,524
982,001
11,292
13,847
3,499
2,116
3,335
4,931
7,012
5,595
3,850
1,139,287
1,304,214
1,580,399
1,905,260
2,291,408
2,661,584
3,217,962
2,948,582
3,422,237
154,154
157,456
126,138
145,694
180,295
195,501
207,312
200,484
234,882
MI
1,275,615
1,494,140
1,797,361
2,174,736
2,512,214
2,720,685
3,155,635
2,896,466
3,365,665
1,526,044
1,751,877
2,078,475
2,485,492
2,960,644
3,406,905
4,065,155
3,788,701
4,408,088
9.0
14.8
18.6
19.6
19.1
15.1
19.3
11.2
8.4
Memorandum
1.
24.6
24.8
23.8
23.3
22.5
21.7
20.7
22.0
22.3
2.
24.6
24.0
29.2
31.8
32.1
31.9
65.0
63.7
65.0
3.
40.0
41.5
40.7
39.0
39.2
40.5
9.0
8.9
7.3
4.
5.
6.
0.7
0.8
0.2
0.1
0.1
0.1
0.2
0.1
0.1
10.1
9.0
6.1
5.9
6.1
5.7
5.1
5.3
5.3
2.6
2.5
2.5
2.4
2.4
2.1
2.0
P : Provisional
1 Excluding IMF A/c Nos 1 & 2 SAF Loans A/c deposits money banks, counterpart funds, deposits of foreign central banks and foreign governments.
2 Excluding inter banks deposits and deposits of federal and provincial governments, foreign constituents and international organization etc.
3 Income velocity of money is taken as GDP at current factor cost / quarterly average of monetary assets (A2)
Explanatory Notes:
a Data series on monetary aggregates other than M1 are based on weekly returns reported by scheduled banks to SBP.
b Data series on M1 aggregates (as Sr. # 8) is issued on monthly returns reported by scheduled banks to SBP and published is Statistical Bulletin from
Aril 2008.
c The stock data of M2 has been revised since June 2002 due to treatment of privatization commission deposits with NBP as government deposits.
These deposits were previously included private sector deposits which have now being included in government deposits.
d Totals may not tally due to separte rounding off
TABLE 5.2
CAUSATIVE FACTORS ASSOCIATED WITH MONETARY ASSETS
(Rs million)
1991
1992
1993
1994
1995
1996
1997
1998
495047
434062
47377
-12522
574023
504562
53079
-15392
630745
552580
63664
-18518
36434
37657
201174
194501
18675
-12002
270165
257074
22869
-9778
345167
322772
30204
-7809
373433
345917
36786
-9270
426520
382336
41519
-11465
14130
26130
-4660
-5749
287
696672
28302
260962
9374
292381
10661
352954
14594
392820
13744
462357
16955
531064
20121
602828
29196
251588
221062
281720
251311
338360
309595
379076
352363
445402
416094
510943
478701
573632
546814
668370
632025
30526
-330
-36857
424949
-24305
400644
30409
-151
-41500
520895
-15326
505569
32242
-617
-58844
966650
-27971
938679
26818
-736
-61621
1114494
-61260
1053234
36345
-650
-45290
1281477
-75157
1206320
28765
-546
-52846
644729
-49339
595390
26713
-388
-46537
719328
-15930
703398
29308
-464
-74705
813708
11027
824735
27438 2
38332 2
-5315
-5579
68991
62573
4194
2224
75002
65698
7335
1969
28266
23145
6582
-1461
53087
36419
4733
-2195
68527
51726
5858
-1057
21702
592
31419
1287
60573
3933
39866
-850
14130
69537
3211
12000
63429
3166
-4660
0
61879 4,9
-242 7
21110
25096
30132
30249
56640
58284
40716
42768
66326
63731
60263
57329 3
62121
59907 4
-3986
178
4362
-117
179
-4643
-1644
-395
-11346
-2052
158
6309
2595
-76
-28168
2934
-153
21139 3
53680 2
5712 2
95946
8979
123834
-34013
74599
33409
94380
26957
152942
-38998
147845
-33289
166983
(13897)
104925
89821
108008
121337
113944
114556
153086
(Contd.)
59392
80933
72457 9
5702
(2870)
56722
48018
10585
(3126)
10304
1223
-1089
287
0
83414 *
-894
*
84308 *
74781
2214 7,9
-119
5152 4,9
9527
86
26761
TABLE 5.2
CAUSATIVE FACTORS ASSOCIATED WITH MONETARY ASSETS
(Rs million)
1999
2000
2001
2002
2003
2004
583598
505887 8
67309
(21793)
661832
545850 8
107403
(23616)
601870
4998888 8
95311
(25524)
677054
567208
100642
(22991)
598623
511186
74047
(18805)
656729
574886
65873
(16224)
37657
37657
37657
37657
37657
37657
(5749)
287
816710
41351
775359
(5749)
287
842752
68637
774115
(5749)
287
902603
75240
827363
(5749)
287
921596
60159
861437
(5749)
287
1048162
55370
992892
(5749)
287
1363669
34293
1329376
735887
43124
(3652)
0
(589)
(73544)
1326175
(45629)
1280546
754190
28826
(8901)
0
(611)
(59087)
1444886
(44254)
1400632
750211
37036
(12241)
52357
(562)
(6202)
1497707
28338
1526046
841057
35563
(15183)
37877
(536)
(67463)
1530651
230718
1761370
949030
32386
(18802)
30278
(586)
(107258)
1539041
539664
2078704
1274245
53852
(22108)
23387
(628)
(116405)
1903367
583190
2486556
(78361)
(55952)
(26595)
4186
58106
63700
(8174)
2581
(74824) #
(75193) 8'#'
3645
(3275)
119214
13049
106165
103038
6779
(3652)
0
61
246 #
44697
29529
74226
78234
39963 8
40094
(1823)
(46731)
(32315) 8@
(12508)
(1908)
22177
14313
5331
2533
26044
3125 7
22916
18303
9862 7
(5249)
0
(22)
14457
118711
1375
120086
69194
11573
57620
48633
12327
(3340)
0
49
30863
53374
72654
126028
7 The difference in flow data is due to change in the composition of autonomous bodies.
8 Special Account-Debt Repayment Adjusted.
# Adjusted for Rs 28.5 billion on account of Adhoc Treasury Bills created to offset the government
losses due to the unification of exchange rate
@' The difference in flow data is due to change in the total number of PSES
@
7
@
@
18993
(15081)
34074
52969
(1473)
(2942)
(14480)
26
(12040)
29156
206168
235324
148539
(4789)
153328
167723
(3177)
(3619)
(7599)
(50)
(61674)
8454
308946
317400
315407
(21077)
336484
325215
21466
(3306)
(6891)
(42)
(9147)
364326
43526
407852
(Contd)
TABLE 5.2
CAUSATIVE FACTORS ASSOCIATED WITH MONETARY ASSETS
(Rs million)
End March
2005
2006
2007
2007
2008 P
752515
646682
87836
(14198)
833686
708037
107762
(14308)
926530
810053
98552
(14269)
909342
829901
61722
(14476)
1238722
1119187
101239
(13899)
37657
37651
37657
37657
37657
(5749)
287
1782368
32224
1750144
(5749)
287
2190769
36979
2153790
(5749)
287
2576474
58148
2518326
(5749)
287
2461120
39958
2421162
(5749)
287
2955791
81627
2874164
1712093
44838
(23714)
16927
(539)
(204929)
2329415
636938
2966352
2113890
47237
(23225)
15889
(546)
(327346)
2696564
710341
3406905
2479608
46010
(23478)
16187
(519)
(422223)
3080263
984982
4065155
2385708
42756
(23446)
16144
(509)
(360492)
3009461
779240
3788701
2832887
48427
(23504)
16353
(533)
(507986)
3685994
722094
4408088
95785
71796
21963
2026
86879
67063
19926
(110)
92844
102015
(9210)
39
75656
121864
(46040)
(168)
312191
309135
2687
370
418699
(2069)
420768
437848
(9014)
(1606)
(6460)
88
(88525)
426048
53748
479796
408401
4755
403646
401797
2399
489
(1038)
(7)
122416
372857
73403
446260
385705
21169
364536
365718
(1227)
(253)
298
27
(94877)
383699
274551
658250
Till end June 1996 autonomous bodies consisted of WAPDA, OGDC, PTC, NFC,and PTV, thereafter
1 their composition has been changed as WAPDA, OGDC, PTC, SSGC SNGPL, KESC and Pakistan
Railways.
2 Adjusted for SAF loans amounting to Rs 7371 million
3 Adjusted for Rs 5278 million to exclude the impact arising due to mark up debited to the borrowers account.
4 Adjusted for Rs 8207million being mark up debited to the borrowers account
5 Credit to NHA by commercial Banks.
6 Credit to NHA and CAA by commercial banks
Note: Figures in the parentheses represent negative signs.
P : Provisional
270351379317
297923479
267372355838
271819353279
(4481)2418
(221)(25)
255166
37(14)
(33147)(85763)
312897605731
68899(262798)
381796342934
Source: State Bank of Pakistan
TABLE 5.3
SCHEDULED BANKS POSITION BASED ON WEEKLY RETURNS: LIABILITIES AND ASSETS
(Rs million)
Outstanding Amount at end June
1993
1994
LIABILITIES
1. Capital (paid-up) and Reserves
Demand liabilities in Pakistan36,011
43,770
2. Inter-banks Demand Liabilities12,822
14,532
2.1 Borrowing(1,436)
(2,878)
2.2 Deposits(11,386)
(11,654)
3. Deposits (General)217,711
256,188
4. Other Liabilities9,112
12,578
5. Total Demand Liabilities (2+3+4)239,645
283,298
TIME LIABILITIES IN PAKISTAN
6. Inter-banks Time Liabilities4,937
6.1 Borrowing(3,976)
6.2 Deposits(961)
7,181
7. Time Deposits (General)270,343
(3,333)
8. Other Liabilities3,920
(3,848)
9. Total Time Libilities (6+7+8)279,200
342,368
10. Total Demand and Time Liabilities518,845
4,812
11. Borrowing From SBP64,577
354,361
12. Borrowing from Banks Abroad14,614
637,659
6,58413. Money at Call and Short Notice
in
70,583
Pakistan
14,217
14. Other Liabilities505,570
6,721
15. Total Liabilities1,146,201
640,164
16. Total Statutory Reserves26,271
1,413,114
16.1 On Demand Liabilities(12,311)
32,219
16.2 On Time Liabilities Assets(13,960)
(14,501)
ASSETS
(17,718)
17. Cash in Pakistan11,301
18. Balances with SBP48,745
19. Other Balances8,920
7,00220. Money at Call and Short Notice in
Pakistan
21. 17+18+19+20 as % of 1014.6
13,959
FOREIGN CURRENCY
63,746
22. Foreign Currency held in Pakistan2,194
14,814
23. Balances with Banks Abroad6,190
7,062
24. Total Foreign Currency8,384
15.6
BANK CREDIT ADVANCES
25. To Banks7,830
26. To Others308,992
4,261
27. Total Advances316,822
7,899
28. Bills Purchased and Discounted44,149
12,160
29. Total Bank Credit360,971
30. 29 as % of 1069.6
INVESTMENT IN SECURITIES AND SHARES
8,616
31. Central Government Securities140,124
347,868
32. Provincial Government Securities3,727
356,484
33. Treasury Bills35,660
52,483
34. Other Investment in Securities & Sahres31,331
408,967
35. Total Investment in Securities and Shares210,842
64.1
36. 35 as % of 1040.6
37. Other Assets490,036
38 Advance Tax Paid39 Fixed Assets147,076
40 Total Assets1,146,201
3,345
41 Excess Reserves (18-16)22,474
83,443
32,632
266,496
41.8
625,910
1,413,114
31,523
1995
1996
1997
1998
1999
2000
2001
50,533
16,787
(5,104)
(11,683)
296,739
16,500
330,026
56,255
13,281
(115)
(13,166)
339,408
19,224
371,913
60,935
13,722
(407)
(13,315)
358,457
21,654
393,833
91,060
10,991
(78)
(10,913)
411,361
25,120
447,472
75,632
7,968
(61)
(7,907)
454,072
38,491
500,531
79,648
8,580
(43)
(8,537)
475,281
47,420
531,281
88,581
12,282
(34)
(12,248)
527,672
42,870
582,824
9,059
(5,998)
(3,061)
405,882
3,388
418,329
748,355
82,668
14,280
8,350
743,430
1,647,616
37,835
(16,919)
(20,916)
5,509
(2,965)
(2,544)
495,677
4,737
505,923
877,836
56,914
13,424
8,070
897,892
1,910,391
44,295
(18,999)
(25,296)
5,422
(3,618)
(1,804)
571,574
5,369
582,365
976,198
77,999
14,622
5,370
993,960
2,129,084
49,078
19,960
(29,118)
10,658
(7,744)
(2,914)
628,076
7,141
645,875
1,093,347
113,919
16,518
7,768
264,981
1,587,593
55,056
(22,762)
(32,294)
8,633
(5,845)
(2,788)
661,401
8,329
678,363
1,178,894
142,147
22,089
17,528
298,019
1,734,309
59,821
(25,903)
(33,918)
6,300
(5,674)
(626)
652,279
10,759
669,338
1,200,619
141,016
16,657
42,469
321,224
1,801,633
59,287
(26,135)
(33,152)
4,705
(3,668)
(1,037)
712,978
9,494
727,177
1,310,001
139,367
15,169
30,293
400,517
1,983,928
64,651
(28,527)
(36,124)
16,363
78,503
11,012
8,814
15.3
19,328
63,502
14,516
8,989
12.1
17,821
89,756
16,864
5,772
13.2
18,769
84,740
18,210
8,903
11.9
18,870
100,335
19,116
18,095
13.3
19,468
153,371
18,250
43,509
19.5
19,178
147,962
18,033
31,179
16.5
3,017
8,163
11,180
3,667
16,545
20,212
4,647
10,918
15,565
2,706
21,798
24,504
2,981
39,019
42,000
2,222
46,619
48,841
4,788
70,856
75,644
13,482
413,811
427,293
59,649
486,942
65.1
5,449
474,731
480,180
62,511
542,691
61.8
3,690
552,522
556,212
70,675
626,887
64.2
5,687
644,049
649,736
63,073
712,809
65.2
4,402
725,852
730,254
63,774
794,028
67.4
5,788
801,154
806,942
69,554
876,496
73.0
3,657
866,490
870,147
75,504
945,651
72.2
166,687
3,340
90,059
35,210
295,296
39.5
739,506
1,647,616
40,668
144,922
3,338
137,110
42,512
327,882
37.4
913271.0
1,910,391
19,207
134,417
2,399
167,945
39,023
343,784
35.2
1,012,645
2,129,084
40,678
123,647
2,148
235,388
40,900
402,119
36.8
254,970
49,332
13,237
1,587,593
29,684
115,671
1,969
204,160
69,069
390,869
33.2
255,378
69,564
26,054
1,734,309
40,514
115,536
1,730
103,790
65,993
287,049
23.9
252,114
72,941
29,594
1,801,633
94,048
101,161
1,836
123,889
70,048
296934
22.7
340,220
78,205
30,922
1,983,928
83,311
Contd.
TABLE 5.3
SCHEDULED BANKS POSITION BASED ON WEEKLY RETURNS: LIABILITIES AND ASSETS
Outstanding Amount at end June200220032004
LIABILITIES
1.Capital (paid-up) and Reserves
Demand liabilities in Pakistan85,886112,230131225
2.Inter-banks Demand Liabilities13,2619,93720755
2.1 Borrowing(10)(1)(15)
2.2 Deposits(13,251)(9,936)(20740)
3.Deposits (General)609,657785,3331014947
4.Other Liabilities47,33353,35256532
5.Total Demand Liabilities (2+3+4)670,251848,6221092234
TIME LIABILITIES IN PAKISTAN
6.Inter-banks Time Liabilities2,1043,9914806
6.1 Borrowing(659)(621)(1878)
6.2 Deposits(1,445)(3,370)(2928)
7.Time Deposits (General)803,749903,1531026919
8.Other Liabilities12,80816,02020703
9.Total Time Libilities (6+7+8)818,661923,1641052428
10. Total Demand and Time Liabilities1,488,9121,771,7862144662
11. Borrowing From SBP135,556137,882162335
12. Borrowing from Banks Abroad12,64221,2439872
31,87728,5512747913. Money at Call and Short Notice in Pakistan
14. Other Liabilities546,159 *468,312 *527452
15. Total Liabilities2,301,0322,540,0043003025
16. Total Statutory Reserves73,67787,893105955
16.1 On Demand Liabilities(32,850)(41,934)(53574)
16.2 On Time Liabilities Assets(40,828)(45,959)(52381)
ASSETS
17. Cash in Pakistan26,41430,41536432
18. Balances with SBP124,883140,077151406
19. Other Balances27,26831,30636762
32,83128,6863044420. Money at Call and Short Notice in Pakistan
21. 17+18+19+20 as % of 1014.213.012.0
FOREIGN CURRENCY
22. Foreign Currency held in Pakistan5,0035,4354806
23. Balances with Banks Abroad89,41668,57860976
24. Total Foreign Currency94,41974,01365782
BANK CREDIT ADVANCES
25. To Banks1,62625363
26. To Others894,524988,5721258022
27. Total Advances896,150988,8251258085
28. Bills Purchased and Discounted75,58880,68799924
29. Total Bank Credit971,7381,069,5121358009
30. 29 as % of 1065.360.463.3
INVESTMENT IN SECURITIES AND SHARES
31. Central Government Securities154,292191,709240842
32. Provincial Government Securities1,7281,23477
33. Treasury Bills231,507412,449408438
34. Other Investment in Securities & Sahres83,493118,234132026
35. Total Investment in Securities and Shares471,020723,626781,383
36. 35 as % of 1031.640.836.4
**353,84244216237. Other Assets456,377
38. Advance Tax Paid64,27049,78953879
39Fixed Assets31,81238,73846766
40. Total Assets2,301,0322,540,0043003025
41. Excess Reserves (18-16)51,20652,18445451
Figures in the parentheses represent negative sing, * : Contra Items, P : Provisional
(Rs million)
End March
20072008 P
2005
2006
2007
190,652
22,993
(99)
(22,894)
1,211,674
70,107
1,304,774
315,414
28,608
0
(28,608)
1,350,011
97,266
1,475,885
484,296
54,796
0
54,796
2,889,589
137,089
3,081,474
430,537
45,472
0
45,472
2,631,817
128,930
2,806,219
561,557
35,910
0
35,910
3,139,258
163,956
3,339,125
10,756
(1,024)
(9,732)
1,231,745
27,288
1,269,789
2,574,563
185,068
6,245
22,243
645,616
3,624,387
127,041
(64,089)
(62,952)
25,759
0
(25,759)
1,490,182
34,236
1,550,177
3,026,061
198,725
2,953
172,893
168,011
3,884,057
148,585
72,364
76,221
3,861
0
3,861
512,565
69,786
586,212
3,667,686
269,109
7,015
220,941
136,119
4,785,167
229,338
211,867
17,471
8,775
0
8775
465,880
62,934
537,589
3,343,808
252,056
6,146
135,765
148,762
4,317,075
209,117
193,252
15,864
5,889
0
5,889
474,671
81,119
561,679
3,900,804
234,002
9,781
196,087
200,637
5,102,867
247,899
231,225
16,674
43,462
188,092
49,021
22,166
11.8
48,439
202,501
56,460
232,535
17.8
58,072
307,433
65,656
239,031
18.0
49,615
254,653
49,669
158,854
15.0
63,761
293,274
43,827
199,049
15.0
6,777
116,627
123,404
6,449
93,387
99,836
7,463
170,509
177,972
9,225
151,551
160,776
9,459
106,365
115,825
190
1,680,491
1,680,681
120,480
1,801,161
70.0
0
2,079,056
2,079,056
135,924
2,214,980
73.2
0
2,379,226
2,379,226
145,707
2,524,932
69.0
0
2,276,247
2,276,247
142,268
2,418,515
72.0
0
2,722,452
2,722,452
128,439
2,850,891
73.0
173,788
77
415,016
140,453
729,334
28.3
563,552
42,386
61,809
3,624,387
61,051
177,860
77
411,691
165,598
755,227
25.0
195,096
6,423
72,560
3,884,057
53,916
174,425166,260184,250
767676
655,921539,777598,507
235,330186,058287,226
1,065,753892,171 1,070,059
29.027.027.0
211,141204,508251,006
8,1447,86616,300
127,031120,447198,876
4,785,167 4,317,075 5,102,867
78,09545,53645,375
Source: State Bank of Pakistan
Note : Effective 22 July 2006, demand & time deposits have been re-classified in accordance with BSD circular no. 9 2006 dated 18 July 2006. the time
deposits of less than 6 months are included in demand deposits for for the prupose of CRR & SLR
- Definition of time & demand liabilites as mentioned in BSD circular no 9 dated 18 July 2008 have been revised. As per new definition, time liabilities will
included deposits with tenor of one year nad above. Accordingly, time deposits with tenor of less of than one year will become part of demand deposits.
TABLE 5.4
INCOME VELOCITY OF MONEY
Naroow Money
M1
Growth
Percentage
(Rs billion)
Income Velocity of Monetary
Assets (M2)
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-2000
73.56
80.93
96.54
103.45
118.97
134.83
159.63
185.08
206.36
240.16
265.14
302.91
327.82
358.77
423.14
448.01
443.55
480.33
643.04
739.03
104.62
116.51
146.03
163.27
183.91
211.11
240.02
269.51
290.46
341.25
400.64
505.57
595.39
703.40
824.73
938.68
1,053.23
1,206.32
1,280.55
1,400.63
13.2
11.4
25.3
11.8
12.6
14.8
13.7
12.3
7.8
17.5
17.4
26.2
17.8
18.1
17.2
13.8
12.2
14.5
6.2
9.4
2.7
2.7
2.7
2.7
2.7
2.6
2.5
2.6
2.7
2.7
2.7
2.7
2.3
2.4
2.4
2.4
2.5
2.3
2.4
2.7
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
End March
2006-07
2007-08
P:Provisonal
Explanatory Note:
1275.6
1494.14
1797.36
2174.74
2512.21
2720.68
3155.63
1,526.04
1,751.88
2,078.48
2,485.49
2,960.64
3,406.91
4,065.16
9.0
14.8
18.6
19.6
19.1
15.1
19.3
2.6
2.5
2.3
2.3
2.4
2.1
2.0
3,788.70
4,408.09
11.2
8.4
Source: State Bank of Pakistan
a: It may be noted that data series of M1 from 2000-01 is not comparable as compilation of M1 based on weekly data has been
discontinued by the SBP. Now M1 is being compiled on the basis of monthly returns and will be reported in the monthly statistical
Bulletin of the SBP beginning from April 2008 in its table 2.1
b: The stock data of M2 has been revised since June 2002 due to treatment of privatization commission deposits with NBP as
government deposits. These deposits were previously uncluded in private sector deposits which have now being included in
government deposits.
TABLE 5.5
LIST OF DOMESTIC, FOREIGN BANKS AND DFIs (As on 30-04-2008)
20
21
22
23
24
25
Foreign Banks
1Al-Baraka Islamic Bank B.S.C. (E.C.)
2Citibank N.A.
3Deutshe Bank A.G.
4The Hong Kong & Shanghai Banking Corporation Limited
5Oman International Bank S.A.O.G.
6The Bank of Tokyo - Mitsubishi UFJ Limited\
TABLE 5.6
SCHEDULED BANKS IN PAKISTAN (Weighted Average Rates of Return on Advances)
(Percent)
As at thePrecious
End ofMetal
I. INTEREST BEARING
1999Jun13.39
(15.57)
Dec11.41
(16.50)
2000Jun11.10
(11.81)
Dec11.53
(12.73)
2001Jun11.75
(13.87)
2002Jun8.10
(8.14)
2003Jun12.01
(12.01)
2004Jun9.20
(9.20)
2005Jun8.51
(8.51)
2006Jun11.58
(11.58)
2007Jun10.87
(10.87)
Dec11.45
(11.45)
Stock
Exchange
Securities
Merchandise
Machinery
Real
Estate
Financial
Obligations
Others
Total
Advances*
14.15
(14.16)
13.79
(13.44)
13.76
(13.45)
13.57
(12.82)
13.54
(14.06)
11.27
(11.70)
11.97
(11.82)
6.01
(6.01)
6.86
(8.29)
14.84
(14.09)
11.37
(12.11)
10.36
(10.42)
13.89
(13.91)
14.56
(14.35)
13.67
(13.83)
12.88
(13.68)
13.69
(13.59)
13.12
(13.13)
9.39
(9.67)
6.89
(7.08)
6.09
(6.01)
8.68
(8.51)
10.73
(10.68)
9.82
(9.82)
15.19
(15.18)
14.17
(14.30)
13.15
(13.15)
13.82
(13.74)
13.50
(13.55)
13.56
(13.67)
15.66
(15.68)
11.21
(11.77)
4.59
(4.07)
8.55
(8.55)
11.07
(11.06)
11.09
(11.09)
14.08
(14.49)
13.75
(14.78)
12.23
(13.73)
12.90
(13.62)
12.84
(13.86)
12.72
(12.98)
12.63
(12.86)
9.08
(9.08)
6.68
(6.68)
10.23
(10.23)
12.30
(12.30)
12.85
(12.85)
14.95
(15.13)
13.14
(13.25)
13.65
(14.03)
13.49
(13.56)
13.07
(13.00)
13.88
(13.81)
7.74
(7.66)
7.08
(7.03)
6.76
(6.70)
10.31
(10.31)
11.05
(11.05)
10.02
(10.02)
14.29
(16.11)
14.07
(16.29)
13.34
(13.98)
12.93
(13.36)
12.05
(13.87)
12.47
(13.39)
10.66
(11.49)
9.04
(9.05)
8.86
(9.02)
9.59
(9.99)
10.76
(10.81)
11.93
(11.98)
14.47
(14.88)
14.09
(14.75)
13.25
(13.77)
13.08
(13.58)
13.07
(13.64)
13.00
(13.29)
11.87
(12.35)
8.41
(8.54)
7.01
(7.01)
9.71
(9.66)
11.25
(11.30)
11.64
(11.66)
15.69
(15.39)
14.42
(14.51)
13.12
(13.48)
13.51
(13.68)
13.47
(13.57)
13.09
(13.33)
5.92
(5.77)
4.86
(5.28)
7.15
(7.17)
10.03
(10.20)
11.26
(11.34)
11.27
(11.41)
15.12
(15.03)
14.82
(14.68)
13.48
(14.07)
13.54
14.01
13.39
(13.88)
12.85
(12.73)
7.50
(7.95)
5.73
(5.96)
7.93
(7.95)
9.63
(9.66)
10.11
(10.03)
10.26
(10.23)
15.75
(15.92)
15.41
(15.45)
14.31
(14.39)
14.48
(14.53)
14.53
(14.42)
13.70
(13.81)
9.39
(9.54)
6.61
(6.81)
7.80
(7.88)
9.14
(9.20)
10.80
(10.84)
10.76
(10.82)
13.76
(14.92)
13.57
(14.84)
13.08
(14.39)
12.97
(14.24)
13.31
(14.52)
13.47
(14.05)
11.47
(12.08)
9.27
(9.68)
10.16
(10.22)
11.23
(11.26)
11.92
(11.92)
11.80
(11.79)
14.49
(14.57)
13.89
(13.86)
13.42
(13.40)
13.15
(13.09)
13.84
(13.86)
13.32
(13.22)
7.79
(8.62)
5.88
(5.82)
8.21
(8.19)
9.25
(9.25)
10.43
(10.49)
10.58
(10.62)
15.00
(15.87)
14.74
(15.82)
13.83
(14.94)
14.07
(15.09)
14.03
(14.78)
13.32
(14.00)
10.31
(10.84)
8.34
(9.01)
10.15
(10.67)
12.37
(12.90)
13.02
(13.40)
12.93
(13.26)
14.82
(15.23)
14.49
(14.96)
13.54
(14.27)
13.59
(14.24)
13.65
(14.24)
13.20
(13.52)
9.19
(9.71)
7.19
(7.60)
8.94
(9.13)
10.68
(10.83)
11.57
(11.68)
11.55
(11.65)
TABLE 5.7
SALE OF GOVERNMENT SECURITIES THROUGH AUCTION
(Rs Million)
Fiscal Year/
Securities1993-94
1994-95
MARKET TREASURY BILLS*
A. Three Months Maturity
Amount Offered
) Face Valuei) Discounted ValueAmount Accepted
-) Face Value
-i) Discounted Value
Weighted Average Yield Accepted
) Minimum % p.a.-i) Maximum % p.a.
B. Six Months Maturity
Amount Offered
-) Face Value
-i) Discounted Value
Amount Accepted
-) Face Value
-i) Discounted Value
Weighted Average Yield Accepted
-) Minimum % p.a.
-i) Maximum % p.a.
C. Twelve Months Maturity
Amount Offered
-) Face Value
-i) Discounted Value
Amount Accepted
-) Face Value
-i) Discounted Value
Weighted Average Yield Accepted
-) Minimum % p.a.
-i) Maximum % p.a.
2 Pakistan Investment Bonds(PIBs)**
A. Amount Offered
03 Years Maturities05 Years Maturities10 Years MaturitiesB. Amount Accepteda) 3 Years Maturities
-i) Amount Acepted(Face Val
ii) Weighted average Yield #
-a) Minimum % p.a.
-b) Maximum % p.a.
b) 5 Years Maturities
-i) Amount Acepted(Face Val ii) Weighted average Yield #
-a) Minimum % p.a.
-b) Maximum % p.a.
c) 10 Years Maturities
-i) Amount Acepted(Face Val
ii) Weighted average Yield #
-a) Minimum % p.a.
-b) Maximum % p.a.
Note
1995-96
1996-97
1997-98
1998-99
1999-2000
2000-01
147,735
143,719
82,245
80,670
107,720
105,147
45,985
44,893
21,085
20,725
72,720
70,984
6.660
14.616
6.931
8.958
6.849
12.221
343,937
322,564
205,980
197,165
115,753
109,916
102,669
96,161
85,515
81,909
69,538
66,066
10.599
15.740
7.092
10.355
283,038
247,934
181,014
164,416
75,122
67,584
78,960
69,148
51,200
46,514
54,017
48,431
10.098
16.000
7.584
10.871
5,317
12.946
13.000
36,129
7.138
12.876
7.777
12.935
58,814
8,534
6,674
43,606
46,123
4677
12.427
12.486
13.955
14.004
(Contd.)
Table 5.7
SALE OF GOVERNMENT SECURITIES THROUGH AUCTION
No.
1
A
Securities
2003-04
2004-05
2005-06
2006-07
109,106
108,332
216,637
214,315
1,011,659
1,002,708
389,173
382,026
186,652
183,039
49,625
48,596
Amount Accepted
i) Face value
ii) Discounted value
72,862
71,429
29,231
29,042
115,575
115,174
724,359
716,768
210,541
206,768
136,102
133,484
45,225
44,288
5.362
12.150
1.658
5.815
0.995
1.702
2.017
7.479
7.549
8.326
8.315
8.689
8.687
9.548
287,853
276,882
747,018
731,354
328,990
326,114
470,885
460,185
182,112
173,289
125,483
120,197
64,325
61,426
163,665
157,934
349,009
341,225
158,430
157,256
256,914
251,166
69,752
67,094
90,433
86,629
56,395
53,867
5.645
12.555
1.639
12.404
1.212
2.076
2.523
7.945
7.968
8.487
8.485
8.902
8.902
9.822
202,984
187,339
695,425
665,337
476,719
466,729
136,713
128,569
555,757
509,202
787,636
717,951
568,790
516,955
Amount Accepted
i) Face value
ii) Discounted value
84,568
78,444
264,938
253,908
241,019
236,421
70,688
65,799
459,440
422,647
661,786
607,211
393,605
359,740
6.383
11.984
2.356
6.941
1.396
2.187
2.691
8.401
8.456
8.791
8.786
9.160
9.159
10.124
(Contd.)
Note
2002-03
128,358
125,693
Amount Accepted
i) Face value
ii) Discounted value
2001-02
(Rs. million)
July-March
2007-08
Table 5.7
SALE OF GOVERNMENT SECURITIES THROUGH AUCTION
(Rs. in million)
No.
Securities
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
July-March
2007-08
A.
Amount Offered
03 Years Maturity
05 Years Maturity
10 Years Maturity
15 Years Maturity
20 Years Maturity
30 Years Maturity
238,360
46,124
47,346
144,890
-
211,963
26,074
45,620
140,268
-
221,291
38,514
58,840
93,041
14,316
16,579
-
8,016
2,400
2,603
3,013
0
0
-
16,012
3,896
6,526
5,590
0
0
-
199017
36982
39799
65986
12750
20200
23300
133,052
11,044
21,177
58,805
14,876
9,550
17600
B.
Amount Accepted
107,695
74,848
107,658
771
10,161
87867
68,818
24,819
9,651
14,533
100
2,846
10882
4,953
8.356
12.475
1.792
7.952
3.734
4.235
0.000
0.000
9.158
9.389
9.311
9.778
9.619
10.604
24,382
14,369
27,765
427
4,075
10174
9.392
12.994
3.119
8.887
4.867
5.270
0.000
0.000
9.420
9.646
9.528
10.002
58,194
50,828
51,606
244
3,240
30211
10.420
13.981
4.014
9.587
6.168
7.127
0.000
0.000
9.8005
9.8454
10.106
10.507
10.179
11.434
6,996
9250
7,801
7.683
8.994
0.000
0.000
10.85
11.058
11.103
11.868
6,757
11250
7,850
8.706
8.993
0.000
0.000
11.173
11.392
11.375
11.998
16100
14400
11.546
11.680
11.588
12.239
Note
10,777
9.796
10.800
23,038