Auction Result: Govt raises Rs201bn through T-bills

September 17, 2025 (MLN): The State Bank of Pakistan (SBP) conducted an auction of Market Treasury Bills (MTBs) on Wednesday, in which it raised a total of Rs201.86 billion, including both competitive and non-competitive bids.

This was against a massive demand of over Rs1.07 trillion, showing strong appetite from investors.

The central bank’s preference was evident in the distribution of accepted amounts across different tenors. Out of the Rs1.07 trillion offered, SBP accepted Rs99.2bn in 3-month bills and Rs32.1bn in 6-month bills, making these the dominant categories.

In contrast, only Rs11.7bn was raised through 1-month bills and Rs2.8bn through 12-month bills, despite significant bids in both categories.

Yields continued their downward trend across all tenors. The cut-off yields stood at 10.74% for 1-month, 10.85% for 3-month, 10.83% for 6-month, and 10.99% for 12-month bills.

In addition to competitive bids, the SBP also accepted Rs56bn from non-competitive bidders, with the bulk coming from 3-month and 6-month . This brought the overall raised amount to nearly Rs201bn.

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