December 1, 2020 (MLN): The State Bank of Pakistan (SBP) announced the auction calendar for Dec – Feb 2021 in which it plans to raise Rs.4.155 trillion through the sale of Government Securities.
The amount maturing during the next three months is Rs.3.45 trillion showing a net borrowing by the government of Rs.705 billion.
The SBP plans to auction Rs.2.80 trillion in short term Market Treasury Bills (MTB), Rs.375 billion in Fixed Rate Pakistan Investment Bonds (PIBs), Rs.980 billion in Floating Rate PIBs (PIBFRR) with quarterly and semi-annual coupon payments.
The Fixed Rate PIB of 10 years will be a fresh issue with its coupon rate revised down to 8.00 percent.
The above amount is not inclusive of auction for GOP Ijara Sukuk with the last auction scrapped and a new date to be announced. However, the previous disclosures show SBP had planned to raise Rs.100 billion from issuance of fixed and floating rate Islamic Bonds in December and January.
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