The State Bank of Pakistan has released the auction target pattern for treasury bills and Pakistan Investment Bonds including the floating rate bonds of 10 years which would be issued for the first time.
The statement of the central bank issued on Tuesday said that three auctions of Pakistan Investment Bonds or long terms bonds planned to raise nearly Rs 300 billion. Of this Rs 150 billion would be raised through selling floating rate bonds while another Rs 150 billion would be raised through selling three, five, 10 year and 20 years of bonds. Auctions planned to be held on May 16, June 13 and July 11.
Furthermore the government plans to raise nearly Rs 5,150 billion through six auctions while first to fall on May 8, 2018 where the target has been set at Rs 950 billion.
Remaining auctions to be held on May 23, June 6, June 20, July 4 and July 18 with the targets set for the following schedule have been Rs 650 billion, Rs 300 billion, Rs 250 billion, Rs 1500 billion and Rs 1500 billion respectively.
This would be the heaviest quarter raised huge amount, but the same period to see maturity of treasury bills amounting to Rs 5,117 billion.