Govt raises Rs773.3bn thru T-bills auction
KARACHI: The government on Wednesday raised Rs773.3 billion through auction of market treasury bills but the cut-off yields remained unchanged.
The bids offered by the investors reflected the presence of large liquidity in the financial sector but the government remained close to its requirement.
The highest bids were offered for the benchmark 6-month T-bills while the government accepted the largest amount for the same. Bids for 6-month papers were Rs1,119.8 billion, but the government picked up Rs560.9bn. The cut-off yield on this paper remained unchanged at 7.6 per cent.
The second largest amount of Rs212.4bn was raised for three-month T-bills at 7.34pc and a meagre sum of Rs5bn was raised for 12-month tenor at 7.67pc.
The total bids for the auction were Rs1,695bn while the government accepted Rs733.3bn. In addition to it Rs59bn was also raised through non-competitive bids. Meanwhile, the government raised Rs3.5bn through Pakistan Investment Bonds as semi-annual auction. The amount raised through quarterly auction was Rs5bn for three-year.
Published in Dawn, June 3rd, 2021
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