Karachi December 21 2022: The government rejected all bids received in auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 175 billion to avoid higher interest cost, as per data published by the State Bank of Pakistan (SBP).
State Bank of Pakistan received bids of PKR 38.8 billion, PKR 35.8 billion and PKR 25.9 billion for 3 year PIB, 5 year PIB and 10 year PIB in today auction, respectively with total bids of PKR 100.7 billion.
Investors demand rate in a range of 14.9 percent to 16.99 percent for a 3 year PIB against all time high cut off yield of 14.25 percent.
For 5 year PIB, investors demand return in a range of 13.9 percent to 16.4 percent against historic high cut off yield of 14.37 percent.
For 10 year PIB, investors demand return in a range of 13.5 percent to 16.25 percent compared with all time high cut-off yield of 14.94 percent.
