KARACHI May 25, 2022: The government on May 25, 2022 raised PKR 89.4 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 24-71 bps compared to 28th April PIB Auction.
The cut-off yields for 3 years up by 71 basis points percent to 14.0000 percent. Cut-off yield for 5 years also increased by 24 basis points. Cut-off for 5 years is now 13.1900 percent.
The government borrowed amount of PKR 23.8 billion and PKR 65.6 billion from the auction of 3 years, and 5 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.
Investors did not bid for 20 years and 30 years while government reject the bids for 10 years and 15 years PIBs.
