KARACHI: The government lifted Rs466.56bn in debt, primarily focused in 3 month T-bills through an auction conducted by the State Bank of Pakistan.
Cut off yields for 3 and 6 month T-bills remain unchanged while 12 month T-bills rose by a meager 0.39 bps.
Most of the participation was seen in 3 month government paper which makes up 81% of the targeted amount of PKR.
“Majority of the bids were concentrated in the shortest tenure given OMO injection by the SBP,” says Tahir Abbas, Head of Research at Arif Habib Limited.
The Ministry of Finance was able to raise PKR 378.22 billion through 3 month, PKR 17.41 bn in 6 month, and PKR 70.92 bn in 12 month T-bills.