March 06, 2024 (MLN): The government is targeting to raise Rs3.65 trillion during the next three months (March-May) of FY24, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate.
Category
Target Amount (Rs Bn)
MTBs
1,810
PIB (Fixed Rate)
570
PIB (Floating Rate) Semi-Annual
1,000
PIB (Floating Rate) Quarterly
270
Total
3,650
Through the auction of MTBs, the government is targeting to borrow Rs1.81tr during Mar-May of 2024 as against the maturing amount of Rs1.62tr.
SBP plans to conduct seven auctions of MTBs in the period of Mar-May 2024 to meet this target.
In the month of March, two auctions are scheduled, one on March 06, with a target of Rs225 billion, and the second one on March 20, with a target of Rs340bn.
In April, three auctions will be held, one on April 03 with a target of Rs225bn, the second on April 17 with a target of Rs270bn, and the third on April 30 with a target of Rs150bn.
Going forward, two auctions are scheduled to be held within May, the first one being on May 15 with a target of Rs450bn, and the last auction scheduled for the review quarter is scheduled to be held on May 29 with a target of Rs150bn.
Additionally, the State Bank of Pakistan (SBP) aims to raise Rs1.84tr through the sale of Pakistan Investment Bonds (PIBs).
This includes Rs570bn through the sale of Fixed Rate PIBs, Rs1tr via PIBs Floating Rate Semi-Annual Auction, and an additional Rs270bn through the sale of PIBs Floating Rate quarterly bonds.
