KARACHI: The government raised Rs252.9 billion on Tuesday through the auction of treasury bills.
The government set the target of Rs300bn while the maturity amount was Rs166bn. The government raised Rs190.3bn through auction and Rs62.6bn through non-competitive bids.
The State Bank reported no change in the cut-off yields. The government raised Rs45bn for 3-month, Rs7.7bn for 6-month, and Rs137.5bn for 12-month papers at 21.66pc, 21.39pc, and 20.89pc, respectively.
The State Bank’s decision to maintain a tight monetary policy stance encouraged banks and other investors to park maximum liquidity for the longer-term 12-month papers.
Published in Dawn, May 1st, 2024
