Rs199bn PIBs sold
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KARACHI: The government raised Rs199.4 billion through the auction of fixed-rate Pakistan Investment Bonds (PIBs) on Tuesday.
The highest amount of Rs97.3bn was raised through three-year PIBs at nine per cent per annum with corresponding bids for this tenure at were Rs128.5bn.
Another Rs57.25bn was raised for five-year bond and Rs29.82bn for 10-year with annual rates of 9.5pc and 10pc, respectively.
Similarly, Rs10bn and Rs5bn were raised for 15- and 20-year instruments at 10.5pc and 11pc, respectively.
The total bids for the latest PIB auction stood at Rs263.9bn.
Published in Dawn, July 22nd, 2020
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Jul 22, 2020 12:42pm
In other words 199 billion Rupees loan taken at 10%. Is that any rate for a government to borrow? But this government has gone into a syndrome where it feels that any money it is able to borrow is a great achievement and the government seems to be proud of it. Maybe, I am not sure, the government really has no intention of paying it back?
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Jul 22, 2020 11:22pm
9%...9.5%...10% per annum tells you something about the economy.
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