SBP targets to raise around Rs6.8tr: Auction Calendar May 26-July 26

May 08, 2026 (MLN): The government is targeting to raise Rs6.8 trillion during the three months from May 2026 till July 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 Rs5.45tr during this period through MTBs, Rs1.15tr through PIBs Fixed Rate, and Rs200bn through PIBs Floating Rate.

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

In May, two auctions are scheduled: the first on May 13 with a target of Rs1,000bn, and the second on May 20 with a target of Rs450bn.

Moving forward, two auctions for MTBs are scheduled within June 2026, the first on June 10 with a target of Rs1,500bn, and the second on June 23 with a target of Rs350bn.

Additionally, two auctions are also scheduled for July 2026, the first on July 08 with a target of Rs1,400bn, and the last on July 22 with a target of Rs750bn.

Moreover, SBP aims to raise Rs1.35tr through the sale of PIBs, which includes Rs1.15tr through PIBs Fixed Rate and Rs200bn through PIBs semiannual floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with targets of Rs350bn on May 18, Rs350bn on June 17, and Rs450bn on July 02.

The PIB auction target calendar breakup is given below:

For the semiannual floating rate bonds, the central bank has planned four auctions on 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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