The State Bank on Saturday announced auction for the sale of Pakistan Investment Bonds but set a very low target. The State Bank said that tenders for sale of PIBs for 3, 5, and 10 years would be invited from the Primary Dealers on March 26. The coupon rates for PIBs to be sold in the auction are 6 percent, 7 percent and 8 percent for 3, 5 and 10 years respectively.
The target for the issue is Rs 3 billion (1 billion each for 3, 5 and 10 years maturity).
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