KARACHI, April 7: The State Bank of Pakistan (SBP) has invited tenders for sale of Market Treasury Bills on April 8 and 9 till 1115 hours.

The target is Rs40 billion, said a statement issued by the SBP here on Monday.

The tenders have been invited separately for three months, six months and 12 months through primary dealers.

The tenders will be opened on April 9, at 1130 hours and the results will be announced on the same day.

The settlement date will be April 10.

The maturity dates of Market Treasury Bills sold in the present auction will be as follows: three-month bills on July 3, six-month bills on October 9, 12-month bills on April 9, 2009.

The bids could be rejected without assigning any reason.

—APP