KARACHI – August 03, 2022: The government raised PKR 274.11 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 5 bps compared to the 14th July PIB Auction.
The cut-off yields for 3 years went down by 5 basis points percent to 13.9473 percent. The Cut-off yield for 5 years also decreased by 5 basis points. The Cut-off for 5 years is now 13.4000 percent.
The government borrowed amounts of PKR 82.66 billion and PKR 191.45 billion from the auction of 3 years, and 5 years PIBs, 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 15yaers, 20 years, and 30 years while government reject the bids for 10 years and 15 years of PIBs.
