Govt raises Rs757bn from T-bills

MG News | November 16, 2022 at 09:14 PM GMT+05:00

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November 16, 2022 (MLN): The government on Wednesday raised Rs757 billion from auction of treasury bills against a target of Rs750bn, result data published by the State Bank of Pakistan (SBP) showed.

The SBP received bids worth Rs1.25 trillion, of which Rs986bn were for three-month papers, Rs139bn for six-month and Rs122bn for 12-month papers.

Against this, the government accepted bids worth Rs745bn in three-month, Rs7bn in six-month and Rs5bn in 12-month papers.

The cut-off yields remained unchanged for three-month papers at 15.71% while declining by 0.01% to 15.73% for six-month papers. On the other hand, the cut-off yields for 12-month papers fell by 0.04% to 15.7%.

The government is eyeing to raise another Rs2.85tr from the market during the remainder of 2022.

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