KARACHI: The government raised Rs1,666 billion through auctioning of market treasury bills on Wednesday against the target of Rs1,350bn.

The bidding for the auction amounted to Rs2,286bn reflecting the liquidity movement in the financial sector. Banks are willing to put the maximum in the government papers for higher yields without risks while private sector lending is extremely low.

The government kept the 3-month cut-off yield unchanged at 16.99 per cent but increased by 10 basis points to 16.88pc for 6 months and reduced by 4bps to 16.80pc for 12-month T-bills.

Published in Dawn, December 15th, 2022