The federal government raised Rs. 180.84 billion through Pakistan Investment Bonds (PIBs) on Thursday, against the target of Rs. 200 billion.
The auction, held by the State Bank of Pakistan (SBP), saw a sharp decline in bond yields.
According to Arif Habib Limited (AHL), the 2-year tenor cut-off declined by 74 bps to 13.24 percent, 3-year tenor witnessing a cut-off reduction of 40 bps, reaching 12.5 percent (lowest since March 2022), 5-year tenor seeing a cut-off reduction of 61 bps, settling at 12.8 percent (lowest after March 2022) and 10-year tenor declined by 22 bps to 12.98 percent (lowest since March 2022).
The government accepted Rs. 22 billion for 2-year PIB, Rs 7.96 billion for 3-year PIB, Rs. 55.15 billion for 5-year PIB, and Rs. 61 billion for 10-year PIB.
The government also raised Rs. 34.73 billion through non-competitive bids taking the total amount raised to Rs. 180.84 billion.
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