| Islamabad: The State Bank of Pakistan (SBP) has shared that the government has successfully raised PKR 1,092 billion against an initial target of PKR 900 billion, with a maturity of PKR 783 billion, according to news published on October 18.
Read: Govt collects PKR 1.6 tr in T-bill auction
In the latest Treasury Bills (T-Bills) auction conducted on Wednesday, the SBP reported a substantial decline in the cut-off yields, with a significant oversubscription. The official figures show that the cut-off yield for the 3-month T-Bills decreased by 30 basis points (bps) to 22.2000%. Similarly, the 6-month T-Bills witnessed a substantial drop of 45 bps in their cut-off yield, settling at 22.3999%. For the 12-month T-Bills, the cut-off yield declined by 44 bps to reach 22.4000%.
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During the competitive auction, the government managed to raise PKR 39 billion for the three-month T-Bills, while the 6-month and 12-month T-Bills yielded PKR 12 billion and PKR 882 billion, respectively. Further analysis of the official data shows that the government also secured PKR 159 billion through non-competitive bids, bringing the total amount raised in the auction to PKR 1,092 billion. |
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