SBP raises over Rs772bn through MTBs, PIB auctions

February 18, 2026 (MLN): The State Bank of Pakistan (SBP) raised a combined Rs772.578 billion in its latest auction of Market Treasury Bills (MTBs) and 10-year Pakistan Investment Bond Floating Rate (PIB-PFL).

The central bank raised Rs677.248bn through MTBs, while an additional Rs95.33bn was secured through 10-year Pakistan Investment Floating Rate (PFL) instruments.

In today's auction, the 1-month tenor attracted the largest participation, with face value bids of Rs504.737bn.

This was followed by Rs406.834bn in 12-month bills, Rs240.47bn in 3-month instruments, and Rs112.5bn in 6-month papers.

The 1-month cut-off yield came in at 10.1482%, the 3-month rate at 10.2853%, the 6-month at 10.4437%, and the 12-month yield at 10.5996%.

Of the total Rs677.248bn raised through MTBs, Rs319.782bn came through competitive bids, while Rs357.466bn was accepted via non-competitive bids. Of the non-competitive bids, provincial government participation accounted for Rs300bn, entirely in the 3-month tenor.

For the 10-year Pakistan Investment Bond – Floating Rate semi-annual issue, SBP received Rs423bn in competitive bids. It accepted Rs92.5bn in face value at a cut-off price of 96.7179, against the quoted price range of 97.1251 to 94.4296.

The central bank also accepted Rs2.83bn in non-competitive bids, taking the total raised amount for the 10-year PFL to Rs95.33bn.

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