SBP targets to raise Rs4.4tr: Auction Calendar May-July

May 18, 2024 (MLN): The government is targeting to raise Rs4.37 trillion during the next three months (May-July) of 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 Rs2.34tr during May-July of 2024 through MTBs and the remaining Rs2.03tr through PIBs.

SBP plans to conduct six auctions of MTBs in the next three months to meet this target.

In May, two auctions are scheduled, one on May 15 with a target of Rs450 billion. The second is scheduled for May 29, with a target of Rs360bn.

Two auctions are also scheduled for June, one on June 12 with a target of Rs780bn, and the second on June 26 with a target of Rs450bn.

Moving forward, two auctions for MTBs are scheduled to be held within July, the first one being on July 10 with a target of Rs150bn, while the final auction for the review quarter is scheduled for July 24, targeting Rs150bn.

Additionally, SBP aims to raise Rs2.03tr through the sale of PIBs, which includes Rs570bn through the sale of PIBs Fixed Rate, Rs1.08tr through PIBs semiannual floaters, and Rs380bn through PIBs quarterly floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with a target of Rs190bn each.

For the semiannual and quarterly bonds, the central bank has planned a total of 6 auctions.

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