KARACHI: The government on Wednesday increased the cut-off yields on treasury bills to raise more than the auction target.
The government raised Rs828 billion through T-bills, including Rs48.3bn as non-competitive bids.
The government raised the highest amount of Rs566.6bn for three-month papers with an increase of five basis points in the cut-off yield to 15.79 per cent.
The government also increased benchmark six-month T-bills rate by 5bps to 15.85pc, raising an amount of Rs43bn.
However, the government kept the cut-off yield on 12-month papers unchanged at 15.94pc to raise Rs170.25bn.
The bids for the auction was almost double than the amount raised by the government. A total of Rs828bn was against the auction target of Rs750bn.
The government also raised Rs282.7bn through the auction of Pakistan Investment Bonds (PIBs) the same day.
Published in Dawn, August 25th, 2022