KARACHI: The government on Wednesday raised Rs38.8 billion through auction of Pakistan Investment Bonds (PIBs).

The State Bank of Pakistan (SBP) said that the total bids received were Rs108bn.

The highest amount of Rs16.6bn was picked up for three-year bonds at the rate of 8.2 per cent.

For 15-year papers it raised Rs12bn at the rate of 9.98pc.

An amount of Rs10bn was raised for the longest maturity bonds of 20 years at the rate of 10.55pc.

The government also raised Rs187 million for 5-year papers at the rate of 8.45pc and Rs55m for 10 years at rate of 8.99pc.

Published in Dawn, August 20th, 2020