KARACHI: The government will raise over Rs2.8 trillion through auction of Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) during the next three months.

It is setting higher borrowing target as the financial year coming to a close on June 30 indicating its inability to improve revenue collection.

The State Bank of Pakistan reported on Tuesday that the government will raise Rs2.650tr through MTBs and Rs200bn through PIBs during May-July period.

The maturing amount of treasury bills during this period is Rs2.443tr which means the government will have to raise additional Rs206bn.

However, the government has decided not to offer more PIBs as the maturing amount during the period will be Rs698.3bn and for that it will have to raise additional Rs498.3bn through higher selling of T-bills.

Published in Dawn, May 3rd, 2017