Govt rejects all bids for PIBs
THE government rejected all bids received for the auction of Pakistan Investment Bonds of various tenors on May 18.
At the current auction, bids received were of a value of Rs83.650bn. Three year bonds attracted the highest amount of Rs44.772bn, followed by five year bonds with Rs27.696bn, and 10 year bonds Rs11.180bn. No bids were received for 20 year bonds.
According to the weekly statement of position of all scheduled banks for the week ended May 6, 2016, deposits and other accounts of all scheduled banks decreased 1.02pc to Rs9667.623bn over the preceding week’s Rs9,767.624bn. Compared with last year’s corresponding figure of Rs8,708.097bn, it was higher by 11.02pc.
Deposits and other accounts of all commercial banks also declined by 1.03pc to Rs9,628.808bn over the previous week’s Rs9,728.730bn.