SBP targets to raise around Rs6.2tr: Auction Calendar July 26-Sep 26

July 08, 2026 (MLN): The government is targeting to raise Rs6.15 trillion during the three months from July 2026 till September 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 Rs5tr during this period through MTBs and Rs1.15tr through PIBs Fixed Rate.

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

In July, two auctions are scheduled: the first on July 08 with a target of Rs2,400bn, and the second on July 22 with a target of Rs800bn.

Moving forward, two auctions for MTBs are scheduled within August 2026, the first on August 05 with a target of Rs400bn, and the second on August 19 with a target of Rs200bn.

Additionally, two auctions are also scheduled for September 2026, the first on September 02 with a target of Rs800bn, and the last on September 16 with a target of Rs400bn.

Moreover, SBP aims to raise Rs1.15tr through the sale of PIBs Fixed Rate.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with targets of Rs350bn on July 02, Rs400bn on August 04, and Rs400bn on September 18.

The PIB auction target calendar breakup is given below:

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