KARACHI: The federal government on Wednesday raised some Rs 97 billion through sale of long-term investment papers.
The State Bank of Pakistan (SBP) conducted the auction for the sale of Pakistan Investment Bonds (PIBs) on May 22, 2024 and received bids amounting to Rs 204 billion for the sale of 3-year, 5-year and 10-year bonds. However, no bid was received for 15-year, 20-year and 30-year long-term investment bonds.
Out of total bids, the federal government borrowed Rs 96.88 billion as against the target of Rs 190 billion for this auction. The borrowed amount includes Rs 84.62 billion competitive and Rs 12.25 billion of non-competitive bids.
Rs6.8bn mopped up thru auction for PIBs
The cut-off yield of 3-year PIBs declined by 1 bps to 16.6450 percent against the borrowed amount of Rs 32.541 billion. A decline of 3 bps was witnessed in the cut-off yield of 5-year and it was set at 15.4500 percent. An amount of Rs 49.11 billion was raised through the sale of 5-year PIBs.
The cut-off yield of 10-year long-term investment bonds also fell 5 bps to fix at 14.2999 percent against borrowed amount of Rs 15.225 billion.
Copyright Business Recorder, 2024
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