SBP targets to raise Rs3.91tr: Auction Calendar Jul-Sep

July 18, 2024 (MLN): The government is targeting to raise Rs3.91 trillion during the three months from July to September 2024, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate.

The breakup of the target reveals that the government is targeting to borrow Rs1.61tr during July-September of 2024 through MTBs and the remaining Rs2.30tr through PIBs.

To achieve this target, the State Bank of Pakistan (SBP) plans to conduct six MTB auctions over the next three months. In July, two auctions were scheduled, with the first held on July 10 and the second set for July 24, targeting Rs150bn.

Additionally, two MTB auctions are planned for August. One is scheduled for August 07 with a target of Rs210bn, followed by another on August 21 targeting Rs150bn.

Moving forward, two auctions for MTBs are scheduled to be held within September, the first one being on September 04 with a target of Rs600bn, while the final auction for the review quarter is scheduled for September 18, targeting Rs350bn.

Additionally, SBP aims to raise Rs2.30tr through the sale of PIBs, which includes Rs440bn through the sale of PIBs Fixed Rate, Rs1.80tr through PIBs semiannual floaters, and Rs60bn through PIBs quarterly floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter. For the semiannual and quarterly bonds, the central bank has planned a total of 6 auctions.

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