SBP plans to raise Rs 3.4 trillion through sale of PIBs and Treasury Bills

The State Bank of Pakistan has planned to rise around Rs 3.650 trillion during June to August period through auction of treasury bills and Pakistan Investment Bonds.

The State Bank of Pakistan has released a statement informing that through auction of treasury bills around Rs 3.4 trillion would be raised during the period under review. The central bank would raise the amount through seven auctions starting from June 8 to August 31.

Similarly the central bank plans to sell long term bonds-Pakistan Investment Bonds amounting to Rs 250 billion. Auction of Pakistan Investment Bonds scheduled to be held on June 14, July 28 and August 24 respectively.

The government expects fiscal deficit in the next fiscal year to be around Rs 1479 billion or 4.2 percent of the GDP. During the current fiscal year the government expects fiscal deficit would reach 4.3 percent.