KARACHI: The government raised Rs690 billion through auctioning treasury bills (T-bills) and Pakistan Investment Bonds (PIBs) on Wednesday.
Against the PIBs’ auction target of Rs350bn, the government raised Rs431.3bn — Rs23.6bn for five years, Rs403.6bn for 10 years and Rs4bn through non-biddings.
In the case of T-bills, the government raised Rs258.8bn against the target of Rs350bn. The investors were willing to invest Rs736.6bn. An amount of Rs127bn was raised for three-month tenor at 11.82pc, an increase of 3bps.
The government slashed the T-bill rates by 17 basis points for the benchmark 6-month T-bills but raised the lowest amount of Rs13.6bn. The cut-off yield for the 6-month tenor was increased by 17bps to 11.67pc from 11.50pc in the previous auction.
An amount of Rs62.8bn was raised for a 12-month tenor with a rise of 7bps in cut-off yield to 11.65pc.
Published in Dawn, February 20th, 2025