SBP targets to raise over Rs4tr: Auction Calendar Jun-Aug

June 10, 2025 (MLN): The government is targeting to raise Rs4.35 trillion during the three months from June-August 2025, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate.

The breakup of the target reveals that the government is targeting to borrow Rs2.85tr during this period through MTBs and the remaining Rs1.5tr through PIBs.

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

In June, two auctions are scheduled: the first one to be held on June 11, with a target of Rs900bn, and the second is set for June 25, with a target of Rs650bn.

Moreover, two auctions are also scheduled for July, one on July 9 with a target of Rs250bn, and the second on July 23 with the equivalent target.

Moving forward, two auctions for MTBs are scheduled to be held within August, the first one being on August 6 with a target of Rs350bn, while the last auction for the review quarter is scheduled for August 20 with a target of Rs450bn.

Additionally, SBP aims to raise Rs1.5tr through the sale of PIBs, which includes Rs900bn through the sale of PIBs Fixed Rate, and Rs600bn through PIBs semiannual floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with a target of Rs300bn each.

Lately, the State Bank of Pakistan (SBP) has revised the coupon rates for Fixed-Rate Pakistan Investment Bonds (PIBs) effective January 16, 2025. The updated coupon rates are as follows:

Previously, the coupon rates issued on September 20, 2024, were higher, with the 03-Year, 05-Year, and 10-Year bonds carrying rates of 14.00%, 14.00%, and 13.00%, respectively.

For the semiannual bonds, the central bank has planned six auctions. The 10-year PIB, issued on May 29, 2025, carries a coupon rate of 11.2464%.

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