State Bank of Pakistan generates another Rs 274.5 billion for the economy

KARACHI: State Bank of Pakistan generates another Rs 274.5 billion for theeconomy.

The State Bank of Pakistan (SBP) has reported that the government raisedRs274.5 billion through T-bills, against the target of Rs300 billion.

The SBP conducted the auction for the sale of 3-month, 6-month and 12-monthGovernment of Pakistan Market Treasury Bills (MTBs) and received bidsamounting to over Rs1,061 billion.

Bids worth Rs778.7 billion were received for 3-month T-bills, Rs129.9billion for 6-month T-bills while 12-month government papers fetched bidsamounting to Rs152.4 billion.

Out of the received bids, the federal government raised Rs142.5 billionfrom 3-month bids, Rs1.7 billion from 6-month T-bills and Rs130.7 billionfrom 12-month T-bills.

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The total acceptance in the auction, including non-competitive bids, wasRs293.1 billion.

The cut-off yield for 3-month bids was 13.41pc, whereas for 6-month bids,it was at 13.29pc and 13.51pc for 12-month.