Karachi July 14, 2022: The government raised PKR 132.9 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 150 billion, as per data published by the State Bank of Pakistan (SBP).
Cut-off yields increased by 3-27 bps compared to the 22nd June PIB Auction.
The cut-off yields for 3 years up by 3 basis points percent to 14.0000 percent. The Cut-off yield for 5 years also increased by 27 basis points. The Cut-off for 5 years is now 13.4500 percent.
The government borrowed amounts of PKR 7 billion and PKR 125.9 billion from the auction of 3 years, and 5 years PIBs, respectively. The target for the current auction was set at PKR 50 billion for 3 years PIBs, PKR 50 billion for 5 years PIBs, PKR 30 billion for 10 years PIBs, PKR 10 billion for 15 years PIBs, PKR 5 billion for 20 years PIBs, and PKR 5 billion for 30 years PIBs.
Investors did not bid for 20 years and 30 years while government reject the bids for 10 years and 15 years of PIBs.
