KARACHI: The government raised Rs367 billion through auction of treasury bills (T-bills) on Wednesday while it raised the cut-off yields by up to 23 basis points.

According to the State Bank of Pakistan (SBP), the government raised just Rs367bn against the Rs800bn auction target. It received bids of Rs732bn.

The cut-off yield for three-month paper was increased by 19 basis points to 10.49 per cent.

However, the largest increase was noted for the benchmark six-month T-bills as it was increased by 23 basis points to 10.89pc. The 12-month papers’ yield was increased by 12bps to 11pc.

The government also raised Rs32.4bn through non-competitive bids.

Published in Dawn, February 24th, 2022