KARACHI: The government on Wednesday borrowed Rs2.073 trillion through the auction of market treasury bills mostly for three-month tenor.

The State Bank of Pakistan reported that the banks placed bids of Rs3.2tr but the government remained within the auction target of Rs2.25tr.

It raised Rs1.996tr through three-month papers at the cut-off yield of 22.88 per cent while it raised Rs3.486bn through 12-month papers at 22.94pc. All bids for six-month bills were rejected.

An amount of Rs73.8bn was also raised through the non-bid option. The government has set a Rs8.25tr borrowing target through auctions of treasury bills from Aug 9 to Oct 18.

Published in Dawn, August 24th, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Geopolitical games
Updated 18 Dec, 2024

Geopolitical games

While Assad may be gone — and not many are mourning the end of his brutal rule — Syria’s future does not look promising.
Polio’s toll
18 Dec, 2024

Polio’s toll

MONDAY’s attacks on polio workers in Karak and Bannu that martyred Constable Irfanullah and wounded two ...
Development expenditure
18 Dec, 2024

Development expenditure

PAKISTAN’S infrastructure development woes are wide and deep. The country must annually spend at least 10pc of its...
Risky slope
Updated 17 Dec, 2024

Risky slope

Inflation likely to see an upward trajectory once high base effect tapers off.
Digital ID bill
Updated 17 Dec, 2024

Digital ID bill

Without privacy safeguards, a centralised digital ID system could be misused for surveillance.
Dangerous revisionism
Updated 17 Dec, 2024

Dangerous revisionism

When hatemongers call for digging up every mosque to see what lies beneath, there is a darker agenda driving matters.