PIB Auction: Only Rs127bn raised against target of Rs160bn

By MG News | June 16, 2023 at 11:52 AM GMT+05:00

0:00

June 16, 2023 (MLN): The government's recent auction of Pakistan Investment Bonds (PIBs) fell short of its target of raising Rs160 billion and raised only Rs127bn, as investors demanded higher returns.

According to data from the State Bank of Pakistan (SBP), only 3-year tenor bids worth Rs126.9bn were accepted at the cut-off yield of 19.35%, down by 4 bps since the last auction, while the 5-year and 10-year tenor bids were rejected.

It is pertinent to mention that no bid was received against 15-year, 20-year, and 30-year tenors, showing the lack of confidence of investors in the outlook of Pakistan’s economy.

The low turnout of investors in the recent PIBs auction highlighted the increasing concerns over the government's ability to meet its debt obligations.

The government may need to reconsider its borrowing strategies to attract more investors and reduce its debt burden.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	133,403.19 324.46M	0.02% 33.04
ALLSHR	83,188.05 1,204.34M	0.13% 106.90
KSE30	40,651.46 104.88M	-0.13% -53.85
KMI30	192,083.92 123.92M	-0.26% -496.76
KMIALLSHR	55,847.70 679.22M	0.02% 11.98
BKTi	36,422.88 17.65M	0.29% 105.71
OGTi	28,437.61 10.77M	-0.37% -105.35

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,450.00	109,685.00 107,680.00	995.00 0.92%
BRENT CRUDE	70.28	70.68 69.03	0.70 1.01%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.46	68.91 67.33	0.53 0.78%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%