SBP targets to raise around Rs5.45tr: Auction Calendar Dec 25–Jan 26

December 10, 2025 (MLN): The government is targeting to raise Rs5.45 trillion during the three months from December 2025 - February 2026 through the auction of Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs), according to the auction calendars released by the State Bank of Pakistan (SBP).

The breakup of the target reveals that the government is targeting to borrow Rs3.85tr during this period through MTBs, Rs1.2tr through PIBs Fixed Rate, and Rs400bn through PIBs Floating Rate.

SBP plans to conduct six auctions of MTBs in the next three months to meet this target.

In December, two auctions are scheduled: the first one to be held on December 10, with a target of Rs1,000bn, and the second is set for December 24, with a target of Rs600bn.

Moreover, two auctions are also scheduled for January 2026, one on January 7, with a target of Rs600bn, and the second on January 21, with the target of Rs700bn.

Moving forward, two auctions for MTBs are scheduled to be held within February 2026, the first one being on February 04, with a target of Rs550bn, while the second auction is scheduled for February 18, with a target of Rs400bn.

Additionally, SBP aims to raise Rs1.6tr through the sale of PIBs, which includes Rs1.2tr through the sale of PIBs Fixed Rate, and Rs400bn through PIBs semiannual floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with targets of Rs400bn each on December 17, next year’s January 14 and February 6.

 The PIB auction target calendar breakup is given below:

For the semiannual bonds, the central bank has planned six auctions. The 10-year PIB, issued on July 10, 2025, carries a coupon rate of 10.8974%.

Copyright Mettis Link News