ISLAMABAD: The Government of Pakistan raised above the target amount through the auction of Pakistan Investment Bonds (PIBs).
As per data released by the central bank, the government raised Rs 350 billion in the auction.
The State Bank says that the target of the auction was to sell PIBs worth Rs 300 billion.
Earlier, the Government of Pakistan had sold T-bills worth Rs 776 billion in the auction.
According to the State Bank of Pakistan, 3-month T-bills worth Rs 317 billion were sold in the auction. The cut-off yield for the bonds was reduced by 20 basis points to 13.70 percent.
6-month T-bills worth Rs 167 billion were also sold in the auction, the cut-off yield of the 6-month bills remained at 13.49 percent.
