KARACHI: In new economic initiative, State Bank of Pakistan raises Rs 240billion, media report has revealed.
The State Bank of Pakistan (SBP) reported the government has raised Rs239.7billion through T-bills. The SBP conducted the auction for the sale of3-month, 6-month and 12-month government of Pakistan Market Treasury Bills(MTBs) and received bids amounting to Rs518.254 billion with a realizedamount of Rs 482.455 billion.
For the last several auctions, the government has been raising liquidityless than its target amounts, reflecting its fiscal concerns. It has alsostopped borrowing from SBP, which was a major source of financing for thepast few years.
Bids worth Rs 222.894 billion were received for 3-month T-bills, Rs 108.084billion for 6-month while 12-month government papers fetched bids amountingto Rs 187.275 billion.
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Out of the received bids, the federal government accepted bids amounting toRs 239.714 billion with a realized value of Rs 288.165 billion through theauction of 3-, 6- and 12-month short-term government papers. The borrowedamount is lower than the tentative borrowing target of Rs 600 billion forthis auction.
