Govt Raises Rs. 376 Billion

  • by Sharoon Jan
  • 2 months ago
  • News
  • 1
Govt Raises Rs. 376 Billion

Govt Raises Rs. 376 Billion: The Pakistani Government raised Rs. 376 Billion through the auction of a fixed rate. Pakistan Investments Bond (PIB) against an auction target of 100 billion.

The cash-strapped government auctioned three to 10-year Pakistan Investment Bond (PIB) to Commercial Banks. Raising 375.8 billion against a target of 100 billion as lending rates on long-term binds remained much lower despite a jump than short-term papers.

On three-year tenure (PIB) the loan rate climbed by 145 basis points to 32 months high of 13.3 percent.

According to the data from the Central Bank, the cut-off yields for all maturities went up by 120-145 basis points (bps) in the auction of the paper.

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