Karachi December 20 2023: The government raised PKR 396 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 190 billion, as per data published by the State Bank of Pakistan (SBP).
The Cut-off yield for 3 years, 5 years and 10 years PIBs decreased by 19 basis points, 7 basis points and 10 basis points to 17.1999 percent, 15.88 percent and 15.00 percent respectively.
Government received bids of PKR 184 billion for 3 year, PKR 113 billion for 5 years and PKR 123 billion for 10 year PIB. Government raised PKR 246 billion for 3-Year, PKR 43 billion for 5-Year and PKR 107 billion for 10-Year bond.
Government did not receive bids for 15, 20 and 30 years PIBs.
