KARACHI: The government on Wednesday raised Rs161.7 billion through the Pakistan Investment Bonds (PIBs) against total bids of Rs444.95bn.

It raised Rs40bn for 15 years at the highest return of 10.4 per cent. The entire bids for 15 years were accepted.

However, the government raised Rs67.3bn for three years at 8.88pc against the total bids of Rs187.7bn. The investors were willing to buy Rs122.2bn PIBs for five years but the government accepted just Rs33.1bn at the rate of 9.19pc.

An amount of Rs95bn was offered for 10-year PIBs, but only Rs5bn was accepted at 9.83pc.

The government accepted Rs145.39bn through competitive bids while it also raised Rs9.619bn through non-competitive bids and Rs6.7bn as short selling.

Published in Dawn, August 5th, 2021