KARACHI: The government has raised Rs461.37 billion for budget financing through auction of market treasury bills in an auction held on Wednesday.
State Bank of Pakistan (SBP) said that it had offered treasury bills in three-, six- and 12 months maturities. However, the central bank only received bids in only three months securities.
The central bank received bids of Rs516.38 billion at face value of Rs528.928 billion. The SBP accepted bids worth Rs461.37 billion at face value of Rs472.578 billion for three months treasury bills.
The SBP accepted the bids at 10.55 percent cut-off yield, which was unchanged when compared with the auction held on February 13, 2019.
The central bank has set the target for auction to sell securities worth Rs650 billion.