Govt raises Rs1.6tr via T-bills, PIBs

Despite robust market liquidity, the government raised Rs1,645 billion against maturity of Rs1,565 billion through the auction of treasury bills (T-bills) and Pakistan Investment Bonds (PIBs), while accepting a lower amount than its target for both instruments, reflecting a strategic approach to debt management. The government raised Rs1,645 billion through the auction of T-bills and PIBs held on December 24, said Maaz Azam, Research Head of Optimus Capital. Despite the strong market liquidity evident in the total bids received, the government accepted a lower amount than the target for both instruments, said AHL Director Equities Tahir Abbas. In the T-bills auction, the State Bank of Pakistan (SBP) targeted Rs1,200 billion but accepted bids worth Rs913 billion, which was 76% of the target, according to AHL. Total bids submitted reached Rs1,694 billion, reflecting a 41% oversubscription.