Government Issues T-Bills to Raise $467 billion
Description:
In the Wednesday paper auction, the cut-off yields on Treasury Bills (T-Bills) stayed largely unchanged.
In the auction, the government raised Rs. 467 billion versus an initial target of Rs. 550 billion and a maturities of Rs. 429 billion, according to data provided by the State Bank of Pakistan (SBP).
In the competitive auction, the government raised Rs. 339 billion versus a target of Rs. 150 billion for the three-month paper and Rs. 10 billion versus a target of Rs. 200 billion for the six-month note. Additionally, it raised Rs 65 billion through the 12-month bond as during auction versus a target of Rs 200 billion. The 12 month T-bill cut-off yield was increased by 0.39 basis points.
The government additionally raised Rs. 53 billion via non-competitive bids, according to a further breakdown of the official figures, bringing the total profits to Rs. 467 billion.
