Karachi June 29 2022: On June 29, 2022 SBP raised PKR 1,715 billion through auction of market treasury bills against target of PKR 800 billion.
Bank sources said government mopping up excess amount aim to reduce amount of circular debt. One of the IMF conditions of IMF has been to reduce line losses, circular debt and reform energy sector
State Bank of Pakistan also mopped PKR 207 billion through sale of floater bonds.
The government received total bids of worth PKR 2,370 billion and the highest bids of PKR 1,901 billion for 3 Month T-bills followed by PKR 279 billion for 6 Months and PKR 190 billion for 12 Months.
The cut-off yields for 3 Months and 6 Months paper decreased by 2 basis points and 15 basis points, respectively while remain unchanged for 12 Months paper
The cut-off yield for 3 Months, 6 Months and 12 Months paper settled at 15.23 percent, 14.8001 percent and 14.9499 percent, respectively.
The government raised PKR 1,715 billion in latest auction against target of PKR 800 billion.