Karachi October 12 2022: The government raised PKR 218.30 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 175 billion, as per data published by the State Bank of Pakistan (SBP).
Cut-off yields decreased by 8 -30 bps compared to the 14th September PIB Auction.
The cut-off yields for 3 years went down by 8 basis points percent to 13.8360 percent. The Cut-off yield for 5 years also decreased by 30 basis points. The Cut-off for 5 years is now 13.0900 percent.
Bids rejected for 10 years PIB.
The government borrowed amounts of PKR 93.33 billion, and PKR 124.97 billion from the auction of 3 years and, 5 years respectively. The target for the current auction was set at PKR 60 billion for 3 years PIBs, PKR 60 billion for 5 years PIBs, PKR 35 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 15 years, 20 years, and 30 years.
