SBP targets to raise around Rs6.15tr: Auction Calendar April 26-June 26

April 10, 2026 (MLN):  The government is targeting to raise Rs6.15 trillion during the three months from April 2026 till June 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 Rs4.45tr during this period through MTBs, Rs1.35tr through PIBs Fixed Rate, and Rs350bn through PIBs Floating Rate.

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

In April, three auctions are scheduled: the first on April 01 with a target of Rs750bn, the second on April 15 with a target of Rs1,350bn, and the third on April 29 with a target of Rs1,200bn.

Moreover, two auctions are also scheduled for May 2026, the first on May 13 with a target of Rs400bn, and the second on May 20 with a target of Rs200bn.

Moving forward, two auctions for MTBs are scheduled within June 2026, the first on June 10 with a target of Rs350bn, and the last on June 23 with a target of Rs200bn.

Additionally, SBP aims to raise Rs1.70tr through the sale of PIBs, which includes Rs1.35tr through PIBs Fixed Rate and Rs350bn through PIBs semiannual floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with targets of Rs450bn each on April 28, May 18, and June 17.

The PIB auction target calendar breakup is given below:

For the semiannual floating rate bonds, the central bank has planned seven auctions  on April 01, April 15, April 29, May 13, May 20, June 10, and June 23 each carrying a target of Rs50bn.

The 10-year PIB, issued on January 08, 2026, carries a coupon rate of 10.4639%.

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