Tech Desk
Sep 05, 2024
The State Bank of Pakistan (SBP) auctioned on Wednesday (September 4), where it successfully raised Rs218.45 billion by selling floating interest rate Pakistan Investment Bonds (PIBs). The raised amount is for the five to 10 years semiannual bond at variance with an aim of Rs400bn.
While the cut-off price for five year PIB-PFL is Rs96.4698, whereas, the 10-year PIB-PFL remains at Rs94.0192.
However, while conducting the PIB-PFL auction, SBP got a bid offer extended to Rs823.9bn. The agreement date for the winning bids is today (September 5).
Read more: How much tax is deducted on prize bond money?
Collectively, an amount of $218 billion has been successfully raised via the auction, however, respectively the five-year and 10-year semiannual PIBs managed to raise a bid of Rs188bn and Rs30.45bn.
Additionally, the total amount raised by SBP is through competitive and non-competitive bids. Where Rs210.45bn was raised by competitive bids and the remaining 8bn was raised by non-competitive bids.
However, the original target for PIB-PFL semiannual was to raise worth Rs200bn via the sale of five years and Rs200bn via 10–year PIB.
One thing that has to be noted is that the previous auction held by the central bank was held on August 21, 2024, where it sold PIBs-PFL worth Rs202bn at a variance with a goal of Rs260bn.
The cut-off price was Rs96.7385bn and Rs 94.5568bn by the central bank of Pakistan for the five-year and 10-year PIB-PFL semiannual bonds.
