KARACHI June 22, 2022: The government on June 22, 2022 raised PKR 172.7 billion through an auction of fixed rate Pakistan Investment Bonds (PIBs) compared to target of PKR 150 billion, as per data published by State Bank of Pakistan (SBP).
Cut-off yields decreased by 1-3 basis points compared to 25th May PIB Auction.
The cut-off yields for 3 years decrease by 3 basis points percent to 13.97 percent. Cut-off yield for 5 years also decreased by 1 basis points. Cut-off for 5 years is now 13.1800 percent. Whereas, cut-off yields for 10 years bond remain unchanged at 13.1500%
The government borrowed amount of PKR 10.4 billion from the auction of 3 years, PKR 112.9 billion from the auction of 5 years and PKR 49.3 billion from auction of 10 years PIBs. The target for 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 rejected the bids for 15 years PIBs.
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