THE government raised Rs67.116bn from the auction of Pakistan Investment Bonds held on February 26, despite receiving bids for four times that amount.

Of the total, five-year PIBs fetched Rs39.553bn at a cut-off yield of 9.1418pc, followed by three-year PIBs with Rs13.917bn at 8.4980pc and 10-year PIBs with Rs13.646bn at 9.8003pc.

The central bank had received total bids worth Rs262.459bn. Of these, five-year PIBs had attracted Rs151.435bn, followed by three-year PIBs with Rs68.66bn and 10-year PIBs with Rs42.364bn. No bids were received for 20-year PIBs.

Meanwhile, the central bank mopped up Rs31.9bn from the banking system through an open market operation conducted in the one-day contract on Thursday. It offered a rate of return of 8pc.

According to the weekly statement of position of all scheduled banks for the week ending February 13, total assets of all scheduled banks stood at Rs11,491.071bn, down 1.05pc over the preceding week’s figure of Rs11,613.393bn.

Five-year Pakistan Investment Bonds fetched the highest amount of Rs39.553bn during the latest PIB auction

Total assets of all commercial banks stood at Rs11,309.783bn in the week, lower by 0.98pc over the previous week’s figure of Rs11,421.898bn. Total assets of all specialised banks stood at Rs181.288bn in the week, against the previous week’s figure of Rs191.495bn.

Investments of all scheduled banks stood at Rs5,425.49bn in the week under review, against the preceding week’s figure of Rs5,534.735bn, showing a decrease of 1.97pc.

Investments of all commercial banks stood at Rs5,399.019bn in the week, against the preceding week’s figure of Rs5,499.318bn, down 1.82pc. Investments of all specialised banks stood at Rs26.471bn in the week, against the preceding week’s figure of Rs35.417bn.

Gross advances by scheduled banks stood at Rs4,431.387bn in the week ending February 13, down 0.48pc over the preceding week’s figure of Rs4,452.856bn. Advances by commercial banks fell to Rs4,289.076bn in the week, against the previous week’s figure of Rs4,311.22bn.

Deposits and other accounts of all scheduled banks decreased 0.35pc to Rs8,398.978bn in the week under review, against the preceding week’s figure of Rs8,428.142bn.

Deposits and other accounts of all commercial banks fell 0.24pc to Rs8,378.049bn in the week.

Published in Dawn, Economic & Business, March 2nd , 2015

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