The government has set a target to accumulate Rs3.65 trillion in the forthcoming quarter (March-May) of the fiscal year 2024, by conducting auctions for Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) in both fixed and floating rates.
The State Bank of Pakistan has released an auction calendar. The aim for MTBs during this period is to secure Rs1.81 trillion, a figure that exceeds the maturing amount of Rs1.62 trillion. To achieve this, the State Bank of Pakistan (SBP) will organise seven MTB auctions between March and May 2024.
Specifically, March will see two auctions: one on March 6 aiming for Rs 225 billion, and another on March 20 with a Rs 340 billion target.
In April, three auctions are slated: on April 3, 17, and 30, targeting a total amount of Rs 225 billion, Rs 270 billion, and Rs 150 billion, respectively.
May is scheduled for two further auctions, targeting Rs 450 billion on the May 15 and Rs 150 billion on May 29 th.
In addition to MTBs, the SBP is also looking to raise Rs 1.84 trillion from the sale of PIBs, including Rs 570 billion through fixed-rate PIBs, Rs 1 trillion from PIBs floating rate semi-annual auction, and another Rs 270 billion from the sale of PIBs floating rate quarterly bonds.
