KARACHI: The federal government on Wednesday borrowed Rs 2.151 trillion through sale of short-term security papers.
The SBP conducted the auction for the sale of 3-month, 6-month and 12-month Government of Pakistan Market Treasury Bills (MTBs) on Dec 13 and received bids amounting to Rs 4.629 trillion with a realised value of Rs 3.968 trillion.
The received bids included Rs 953 billion for 3-month, Rs 406 billion for 6-month and Rs 3.269 trillion for 12-month papers.
The federal government overall accepted bids amounting to Rs 2.151 trillion including Rs 157 billion non-competitive bids against the target of Rs 2.250 trillion set for this auction.
As the Monetary Policy Committee of the State Bank of Pakistan on Tuesday kept the policy rate unchanged at 22 percent, the cut-off yield of all T-bills was remained the same.
According to results, the cut-off yield of 3-month short term was stable at 21.4499 percent and Rs 168 billion were borrowed through the sale of 3-month T-bills.
Bids worth Rs 6 billion were accepted for the 6-month MTBs at a cut-off yield of 21.4201 percent, down 1 bps.
An amount of Rs 1.819 trillion was raised through the sale of 12-month short term government security papers at 21.4300 percent.
Copyright Business Recorder, 2023