Foreign Treasury Bills: PTI government achieves yet another economic success

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Foreign Treasury Bills: PTI government achieves yet another economic success

KARACHI – Over the newly launched Foreign Treasury Bills, PTI government achieves yet another economic success with positive response of investors over the economic initiative.

Foreign portfolio investors invested $241.851 million in treasury bills in just 27 days in the month of September, 2019, as the incumbent government started betting on overseas funds into debt securities to finance budget deficit and refinance maturities.

The State Bank of Pakistan’s (SBP) latest data available with the media showed that outflow from portfolio investors amounted to $328 million since July 1.

Currently, financial institutions from two sources, the United States and the United Kingdom (UK), are pumping heavily in treasury bills. Investors from the U.S. bought treasury bills amounting to $289 million in the first two months of the new fiscal year FY2020, whereas, institutions from the UK bought treasury bills amounting to $38.455 million.