January 07, 2025 (MLN): The government is targeting to raise Rs5.25 trillion during the three months from January – Mar 2025, 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 Rs2.2tr during this period through MTBs and the remaining Rs3.05tr through PIBs.

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

In January, two auctions are scheduled: the first one to be held on January 8, with a target of Rs250bn and the second is set for January 22, with a target of Rs350bn.

Moreover, two auctions are also scheduled for February, one on February 4 with a target of Rs350bn, and the second on February 19 with a target of Rs250bn.

Moving forward, two auctions for MTBs are scheduled to be held within March, the first one being on March 05 with a target of Rs500bn, while the final auction for the review quarter is scheduled for March 19 with the equivalent target.

Additionally, SBP aims to raise Rs3.05tr through the sale of PIBs, which includes Rs1,050bn through the sale of PIBs Fixed Rate, and Rs2tr through PIBs semiannual floaters.

For the fixed-rate bonds, SBP will conduct three auctions this quarter, with a target of Rs350bn each.

The State Bank of Pakistan (SBP) has revised the coupon rates for Fixed-Rate Pakistan Investment Bonds (PIBs) effective January 16, 2025. The updated coupon rates are as follows:

Previously, the coupon rates issued on September 20, 2024, were higher, with the 03-Year, 05-Year, and 10-Year bonds carrying rates of 14.00%, 14.00%, and 13.00%, respectively.

For the semiannual bonds, the central bank has planned 6 auctions.

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