The federal government Wednesday raised Rs 483.794 billion through the auction for short-term government papers. The State Bank of Pakistan (SBP), on May 9, 2018, conducted the auction for the sale of 3-month, 6-month and 12-month government of Pakistan Market Treasury Bills (MTBs) and received bids amounting to Rs 583.544 billion with a realized value of Rs 574.807 billion. Bids worth Rs 558.544 billion were received for 3-month T-bills and Rs 25 billion for 6-month. No bid was received for 12-month bills.
The federal government accepted bids amounting to Rs 483.974 billion or realized value Rs 477.072 billion through the auction of 3- and 6-month short-term papers. The borrowed amounted is lower than tentative borrowing target of Rs 950 billion for this auction. Bids amounting to Rs 475.133 billion (realized amount) were accepted for 3-month at 6.2591 percent cut-off yield. Some Rs 1.938 billion were borrowed at 6.3519 percent against the sale of 6-month T-bills.
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