KARACHI: The government on July 07, 2021 raised PKR 146billion through an auction of fixed rate Pakistan Investment Bonds (PIBs) compared to target of PKR 150billion.
The cut-off yields of 3Y PIBs remained unchanged at 8.690 percent at which the government borrowed amount of PKR 137.4billion. The target for 3Y PIB for current auction was set at PKR 50 billion.
A L S O || R E A D
Through the 5Y PIB, the government raised PKR 5billion at the cut-off yield of 9.200 percent, yields remained unchanged. The target for 5Y PIB for current auction was set at PKR 40billion.
An amount of PKR 4million was fetched for 15Y PIBs at a yield of 10.400 percent, which was also at same level of previous auction. The target for 15Y PIB for current auction was set at PKR 15billion.
Investors did not bid for 20Y and 30Y PIB and for 10Y PIB Govt. rejects the bids.