The federal government on Wednesday borrowed some Rs 72 billion through the auction of Market Treasury Bills (MTBs). Tenders for the sale of 3-month, 6-month and 12-month Government of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan through Primary Dealers on August 20. In response to the tender, cumulatively SBP received bids amounting to Rs 73.48 billion with a realised value of Rs 71.7 billion for auction of MTBs.
Some Rs 71.25 billion bids were received for 3-month, Rs 350 million for 6-month and Rs 1.9 billion for 12-month MTBs. The federal government borrowed Rs 71.703 billion through the auction of T-bills as against the target of Rs 125 billion, which included a maturing amount of Rs 93.410 billion and an additional amount of Rs 31.59 billion. A cut-off yield of 9.9564 percent was set for 3-month MTBs with accepted bids of Rs 69.652 billion. Some Rs 333.4 million bids were accepted for 6-months at 9.9791 percent and Rs 1.717 billion for 12-month at 9.9900 percent.
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