Govt raises Rs454bn from T-bill auction

November 2, 2022 (MLN): The government on Wednesday raised Rs454 billion from the treasury bill auctions against the target of Rs600 billion as yields remained flat compared to the previous auction held on October 19, results published by the State Bank of Pakistan showed.

Of the total Rs454bn, the government raised Rs409bn from three-month papers at a cut-off yield of 15.71%. Meanwhile, it raised another Rs7bn and Rs38bn from six-month and 12-month papers at a cut-off yield of 15.74% (same for both tenors).

The government also accepted another Rs54.75bn from the non-competitive bids.

To note, the cut-off yields of all three tenors remained flat compared to the previous auction. However, the yields for three-month and six month papers were 11bps and 4.3bps higher than those in secondary markets.

The government is eyeing to raise another Rs3.5 trillion through treasury bills by December. 2022.

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