Karachi April 29 2022: The government on April 28, 2022 raised PKR 375.8 billion through an auction of fixed rate Pakistan Investment Bonds (PIBs) compared to target of PKR 100 billion, as per data published by State Bank of Pakistan (SBP).
Cut-off yields increased by 120-145 bps compared to 16th February PIB Auction.
The cut-off yields for 3 years up by 145 basis points percent to 13.3000 percent. Cut-off yield for 5 years and 10 years also increased by 120 basis points and 141 basis points, respectively. Cut-off for 5 years and 10 years is now 12.9500 percent and 13.1500 percent, respectively.
The government borrowed amount of PKR 26.92 billion, PKR 62.75 billion and PKR 286.16 billion from the auction of 3 years, 5 years and 10 years PIBs, respectively. The target for current auction was set at PKR 30 billion for 3 years PIBs, PKR 25 billion for 5 years PIBs, PKR 20 billion for 10 years PIBs, PKR 15 billion for 15 years PIBs, PKR 5 billion for 20 years PIBs and PKR 5 billion for 30 years PIBs.
