SBP raises Rs261bn through floating rate PIBs

April 16, 2025 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds (PIBs) on Wednesday, in which it raised Rs260.83 billion through the sale of 5-year and 10-year semiannual bonds, falling short of the Rs400bn target.

The central bank received total bids amounting to Rs1.59 trillion; however, it accepted Rs247bn through competitive bids and Rs13.83bn through non-competitive bids.

The cut-off price for the 5-year bond was set at 96.7551, while the 10-year bond was sold at a cut-off price of 92.7458.

Bids for the 2-year tenor were entirely rejected.

To note, the central bank in the last auction held on March 26, 2025, sold PIBs-PFL worth Rs980.51bn against a target of Rs450bn.

SBP received bid submissions totaling Rs1.31 trillion across various tenors. However, it rejected all bids for the 2-year PIB-PFL (semiannual), while the cut-off price stood at 96.8291 for the 5-year bond and 92.6071 for the 10-year bond.

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