The government has raised Rs 690 billion through the auction of Treasury Bills (T-bills) and Pakistan Investment Bonds (PIBs).
Against the target of Rs 350 billion for the auction of PIBs, the government raised Rs 431.3 billion, of which Rs 23.6 billion was for 5 years, Rs 403.6 billion for 10 years and Rs 4 billion was raised through non-bidding.
In the case of T-bills, the government raised Rs 258.8 billion against the target of Rs 350 billion.
Investors were ready to invest Rs 736.6 billion, an amount of Rs 127 billion was raised for a period of 3 months at 11.82%, an increase of 3 bps.
The government reduced the T-bill rate for benchmark 6-month T-bills by 17 basis points, but the lowest amount collected was Rs 13.6 billion. The cut-off profit for the 6-month tenor was increased by 17 bps to 11.67 percent, from 11.50 percent in the previous auction.
Rs 62.8 billion was collected for the 12-month tenor, bringing the cut-off profit to 11.65 percent with an increase of 7 bps.
