SBP targets to raise Rs4.565tr: Auction Calendar April-June

By MG News | April 06, 2024 at 04:24 PM GMT+05:00
April 06, 2024 (MLN): The government is targeting to raise Rs4.565 trillion during the next three months (April-June) 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 | 2,475 |
PIB (Fixed Rate) | 570 |
PIB (Floating Rate) Semi-Annual | 1,120 |
PIB (Floating Rate) Quarterly | 400 |
Total | 4,565 |
The breakup of the target reveals that the government is targeting to borrow Rs2.475tr during April-June of 2024 through MTBs and the remaining Rs2.09bn through PIBs.
SBP plans to conduct seven auctions of MTBs in April-June 2024 to meet this target.
In April, two more auctions were scheduled, as one was already held on April 03, with a raised amount of Rs557.6 billion. The second is scheduled for April 17, with a target of Rs525bn, while the third would be held on April 30 to collect Rs300bn.
In May, two auctions will be held, one on May 15 with a target of Rs450bn, and the second on May 29 with a target of Rs150bn.
Moving forward, two auctions for MTBs are scheduled to be held within June, the first one being on June 12 with a target of Rs675bn, while the final auction for the review quarter is scheduled for June 26, targeting Rs150bn.
Furthermore, the segment-wise data for the Rs2.09bn that the central bank plans to raise through PIBs shows that Rs570bn is set to be raised through fixed-rate PIBs, Rs1.12tr through semiannual floaters, and the remaining Rs400bn through quarterly floaters.
Apart from the April 04 auction for fixed-rate bonds, SBP will keep two more auctions this quarter, one is scheduled for May 22, and the other for June 19, both with a target of Rs190bn each.
For the semiannual and quarterly bonds, the central bank has planned a total of 7 auctions, with one already conducted on April 03.
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