Karachi November 9 2023: The government raised PKR 252 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 160 billion, as per data published by the State Bank of Pakistan (SBP).
The Cut-off yield for 3 years PIB decreased by 180 basis points to 17.39 percent, for 5 years bonds decreased by 100 basis points to 15.95 percent and for 10-Year tenure yield decrease by 15 basis points to 15.1 percent.
Investors bids totalled PKR 963 billion, which is 3.7 times higher when compared to last auction.
Government received bids of PKR 728 billion for 3 year, PKR 100 billion for 5 years and PKR 134 billion for 10 year PIB. Government raised PKR 139 billion for 3-Year, PKR 47 billion for 5-Year and PKR 66 billion for 10-Year bond.
Government did not receive bids for 15, 20 and 30 years PIBs.