KARACHI: The government on Wednesday raised Rs1.096 trillion through auction of treasury bills and Rs70bn through Pakistan Investment Bonds.

However, the cut-off yields on all the tenors of the T-bills were unchanged.

The government raised Rs388.7bn against the bids of Rs749bn for three-month at 7.32 per cent.

The highest amount of Rs707.6bn was raised for 6-month T-bills at 7.6pc.

The bids for this tenor were Rs1.113tr reflecting the investment trends.

It shows that the investors were sure that interest rate may change slightly during the next six months.

The smallest amount of Rs25 million was raised for 12-month papers at 7.67pc. The total bids received for the auctions of all tenors of T-bills were Rs1.905tr.

PIBs auction

The government raised Rs55bn through PIBs as quarterly auction — Rs25bn for 2-year and Rs30bn for three-year. The government also raised Rs15bn for 5-year in the semi-annual auction.

The total amount raised from PIBs auction stood at Rs70bn.

Published in Dawn, June 17th, 2021