Govt raises Rs1.9tr via Treasury bills auction
https://www.dawn.com/news/2040569
On Wednesday, the Pakistan government successfully raised Rs1.913tr through its treasury bill auction, surpassing the target of Rs1.65tr despite banks' keen interest. The auction, influenced by the recent increase in the State Bank of Pakistan's policy rate, saw banks offering a total of Rs4.9tr in bids, exceeding expectations. Cut-off yields were raised up to 61 basis points across tenors, reflecting the cautious financial institutions opting for risk-free government securities over risky private loans.
The government ended with Rs244.4bn from non-competitive bids, contributing to the total of Rs1.913tr. The largest single-day borrowing was Rs783.5bn at 12.42pc, followed by Rs473bn for a month at 12.1pc, Rs169.5bn for six months at 12.65pc, and Rs242.7bn for a year at 12.89pc.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
