Karachi September 19 2024: The government raised PKR 111 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 200 billion, as per data published by the State Bank of Pakistan (SBP).
This is the first time the government has introduced a 2-year bond.
The Cut-off yield for 3 years PIB decreased by 335 basis points to 12.8995 percent, a low of 30 months. Moreover, cutoff yields decreased by 190 basis points and 105 basis points to 13.98 percent and 13.28 percent for 5-Year and 10-Year tenure. Whereas for 2 year PIB cut-off yield recorded at 13.98 percent.
Government received bids of PKR 197 billion for 2 year, PKR 155 billion for 3 years, PKR 184 billion for 5 years and PKR 30 billion for 10 year PIB. Government raised PKR 42 billion for 2-Year, PKR 26 billion for 3-Year, PKR 26 billion for 5-Year and PKR 17 billion for 10-Year bond.
