KARACHI: The government has announced to raise just Rs200 billion through auction of Pakistan Investment Bonds (PIBs) in the last two months (May-June) of this fiscal year against the maturity of Rs1.392 trillion, reflecting a shortfall of Rs1.192tr.

Working under mounting pressure of the IMF to keep the fiscal deficit within the limit, the government is trying to reduce the weight of PIBs in its huge debt that has reached close to Rs4.8tr.

Published in Dawn, May 4th, 2016