Govt raises Rs131.4 billion through PIBs auction M Haris

The government raised Rs131.4 billion through the auction of Pakistan Investment Bonds (PIBs) against a target of Rs190 billion, further adding to the country’s domestic debt.

According to data from the State Bank of Pakistan, the highest amount, Rs115 billion, was raised through three-year PIBs against bids of Rs154.3 billion, with a rate of return of 16.6%. 

The lowest amount, Rs500 million, was raised for five-year PIBs against bids of Rs45 billion, with a return rate of 15.44%. 

For the benchmark 10-year tenor, the government secured Rs13.4 billion with a 15.25% cut-off yield, out of Rs47.4 billion in bids. 

Overall, the auction raised Rs128.87 billion, with the total reaching Rs131.4 billion, including the non-bid amount.