Govt raises over Rs49bn from PIBs
THE government raised Rs49.134bn from the auction of Pakistan Investment Bonds held on November 18, despite receiving bids worth Rs108.991bn.
The central bank raised Rs39.485bn from three-year PIBs at a cut-off yield of 7.027pc, followed by Rs9.438bn from five-year PIBs at 7.9999pc and Rs210.257m from 10-year PIBs at 9.1507pc.
The investors had showed most interest in three-year PIBs, which attracted bids worth Rs71.799bn, followed by five-year PIBs with Rs31.904bn and 10-year PIBs with Rs5.289bn. No bids were received for 20-year PIBs.
According to the weekly statement of position of all scheduled banks for the week ending November 13, gross advances by all scheduled banks stood at Rs4,630.592bn, an increase of 0.11pc over the preceding week’s figure of Rs4,625.59bn. When compared with last year’s corresponding figure of Rs4,358.307bn, the current week’s figure is higher by 6.25pc.
The investors had showed most interest in three-year PIBs, which attracted bids worth around Rs71.8bn during the latest auction
Advances by all commercial banks rose to Rs4,473bn in the week against the previous week’s figure of Rs4,468.209bn, or by 0.11pc. Advances by all specialised banks stood at Rs157.592bn in the week against the previous week’s figure of Rs157.381bn.
Borrowings by all scheduled banks rose 4.16pc to Rs1,906.716bn in the week under review, over the previous week’s level of Rs1,830.506bn. When compared with last year’s corresponding figure of Rs923.476bn, the current week’s figure is higher by 106.5pc.
Borrowings by all commercial banks increased 4.22pc to Rs1,881.233bn in the week against the previous week’s figure of Rs1,805.05bn. Borrowings by all specialised banks stood at Rs25.483bn in the week.