KARACHI: The federal government Wednesday borrowed some Rs 120 billion through sale of security papers.
Some Rs 59.57 billion were borrowed against the sale of Pakistan Investment Bonds (PIBs) and Rs 59.45 billion through Government of Pakistan Market Treasury Bills (MTBs).
The State Bank of Pakistan (SBP) conducted the auction for sale of PIBs and MTBs on Wednesday.
Bids amounting to Rs 629 billion with realised value of Rs 607 billion were received for sale of T-bills. Most of bids (worth Rs 275 billion) were submitted for 3-month MTBs.
Out of received bids, the federal government accepted bids of Rs 59.45 billion. An amount of Rs 41 billion was borrowed at 6.9900 percent against sale of 3-month T-bills.
Some Rs 18.22 billion and Rs 225 million were raised through 6-month and 12-month MTBs at a cut-off yield of 7.1800 and 7.1500 percent, respectively.
In addition, auction for the sale of 3-, 5- and 10-year PIBs floating Rate was also held on August 12, 2010. Overall, bids worth Rs 221.925 billion were received.
Out of received bids, the federal government accepted bids amounting to Rs 59.575 billion through sale of 3- and 5-year long-term bonds. All bids of 10-year bonds were rejected.
Some Rs 49.575 billion were raised against the sale of 3-year PIBs and an amount of Rs 10 billion through the sale of 5-year bonds.
Copyright Business Recorder, 2020
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