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SBP aims to raise Rs8.5tr: Auction Calendar Nov-Jan

Pakistan eyes panda bond market with $300m debut
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November 01, 2023 (MLN): The government is targeting to raise Rs8.5 trillion during the next three months (November-January) of FY24, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate.

Category Target Amount (Rs)
MTBs 6.061 trillion
PIB (Fixed Rate) 480 billion
PIB (Floating Rate) Semi-Annual 840 billion
PIB (Floating Rate) Quarterly 1.12 trillion
Total 8.501 trillion

Through the auction of MTBs, the government is targeting to borrow Rs6.061tr during Nov-Jan of 2024 as against the maturing amount of Rs7.662tr.

SBP plans to conduct seven auctions of MTBs in the period of Nov-Jan 2024 to meet this target.

In the month of November, three auctions are scheduled, one on November 01, with a target of Rs975bn, one on November 15, with a target of Rs1.5tr, and the third one on November 29 to raise Rs900bn.

For December, two auctions will be held, one on December 13 with a target of Rs2.1tr and the second on December 27 with a target of Rs480bn.

Moreover, two auctions are scheduled to be held within January, the first one being on January 10 with a target of Rs100bn, and the last auction scheduled for the review quarter is scheduled to be held on January 24 with a target of R6bn.

Additionally, SBP aims to raise Rs2.44tr through the sale of PIBs, which includes Rs480bn through the sale of PIBs Fixed Rate, Rs840bn PIBs Floating Rate Semi-Annual Auction, and an amount of Rs1.12tr each through the sale of 2-year and 3-year PIB (Floating Rate) Quarterly Auction.

It is important to mention that the fresh issuance of the 05-Year PIB has been postponed, thus the re-opening of the 13-October issue will continue.

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Posted on: 2023-11-01T12:32:10+05:00