The federal government Wednesday raised Rs 147 billion through the auction for Market Treasury Bills. The State Bank of Pakistan (SBP), on December 7, 2016, conducted the auction for the sale of 3-month, 6-month and 12-month MTBs and received bids amounting to Rs 301.808 billion with a realised amount of Rs 296.502 billion. The received bids were much higher than the target of Rs 150 billion, set by the federal government for this auction.
Some Rs 227.308 billion bids were received for 3-month and Rs 72.5 billion for 6-month MTBs. Bids amounting to Rs 2 billion were received for 12-month short-term government securities. The federal government borrowed as per the target and overall bids amounting to Rs 149.483 billion with a realised value of Rs 147.449 billion were accepted through the sale of 3- and 6-month T-bills, while all bids of 12-month MTBs were rejected. The cut-off yield for 3-month Treasury Bills remained stable at 5.9463 percent with accepted bids worth Rs 146.478 billion (realised amount). Bids amounting to Rs 971 million were accepted for 6-month at a cut-off yield of 5.9471 percent.
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