The State Bank of Pakistan (SBP) has unveiled its debt auction calendar for the period of December 2025 to February 2026, with plans to raise a total of Rs5.45 trillion through domestic securities.
This includes Rs3.85 trillion via six Market Treasury Bill (MTB) auctions, aimed at covering Rs3.884 trillion in maturing papers, leaving a net retirement of Rs34 billion. The largest of these auctions is scheduled for December 10, targeting Rs1 trillion.
In addition to the MTB auctions, the SBP will conduct three fixed-rate Pakistan Investment Bond (PIB) auctions, aiming to raise Rs1.2 trillion. Another Rs400 billion will be raised through six semi-annual floating-rate 10-year PIB auctions.
The planned issuances are part of the SBP’s strategy to manage the country’s debt obligations and maintain liquidity in the market.
