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Govt raises Rs820 billion via T-bills

October 30, 2024 11:46 pm
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Govt raises Rs820 billion via T-bills

In a recent auction of Treasury Bills (T-Bills), the cut-off yields decreased by up to 140 basis points (bps), indicating a shift in Pakistan’s borrowing costs.

According to data from the State Bank of Pakistan (SBP), the government raised Rs820 billion, surpassing the initial target of Rs400 billion against the maturity of Rs893 billion, with investor participation totaling Rs2,189 billion.

The largest yield reduction was observed in the 3-month T-Bill, which declined by 140 bps to 13.8998 per cent. Yields for the 6-month and 12-month papers also fell, dropping by 84 bps to 13.5 per cent and by 64 bps to 13.0997 per cent, respectively.

Read More: Gold price hits all-time high of Rs287,900 per tola

The auction saw competitive bidding that enabled the government to raise Rs133 billion through the 3-month T-Bill, Rs106 billion through the 6-month, and Rs460 billion through the 12-month paper.

An additional Rs121 billion was raised through non-competitive bids, bringing the total amount secured in the auction to Rs820 billion.

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Web Desk

Aamir Khan, with a knack for economics and business news, is currently working at Azaad English.

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