SBP aims to raise Rs10.56tr: Auction Calendar Sep-Nov

September 09, 2023 (MLN): The government is targeting to raise Rs10.56 trillion during the next three months (September-November) of FY24, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, PIBs Floating Rate, Government of Pakistan (GoP) Ijara Sukuk Fixed Rental Rate (FRR), and GOP Ijara Sukuk Variable Rental Rate (VRR).

As per the auction calendar issued by the State Bank of Pakistan (SBP), the government plans to raise most of this amount through the sale of short-term government papers (MTBs).

Through the auction of MTBs, the government is targeting to borrow Rs8.7tr during Sep-Nov of 2024 as against the maturing amount of Rs9.29tr.

SBP plans to conduct six auctions of MTBs in the period of September-November 2023 to meet this target.

In the month of September, two auctions are scheduled, one that took place on September 6, 2023, with a target of Rs1.95tr, and another to be held on September 20, 2023, with a target of Rs2.25tr.

In the month of October, two auctions will be held on October 04, 2023, with a target of Rs600 billion, and on October 18, 2023, with a target of Rs750bn.

In the month of November, two auctions will be held on November 01, 2023, with a target of Rs1.2tr, and on November 15, 2023, with a target of Rs1.95tr.

Additionally, SBP aims to raise Rs1.68tr through the sale of PIBs, which includes Rs480bn through the sale of PIBs Fixed Rate, Rs720bn PIBs Floating Rate Semi-Annual Auction, and an amount of Rs480bn each through the sale of 3-year PIB (Floating Rate) Quarterly Auction.

Moreover, SBP plans to raise through the sale of GOP Ijara Sukuk VRR with a target of Rs120bn and through the sale of GOP Ijara Sukuk FRR with a target of Rs60bn.

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