Govt raises Rs37 billion from PIBs sale

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KARACHI: The federal government raised Rs37.23 billion from the auction of Pakistan Investment Bonds (PIBs) on Wednesday, the State Bank of Pakistan reported.

The highest bid worth Rs16.611 billion was accepted for the three-year Pakistan Investment Bonds at a cutoff yield of 10.0484 percent, the central bank said.

The bids for the five-year and 10-year Pakistan Investment Bonds attracted Rs10.810 billion and Rs9.811 billion at a cutoff yield of 10.4373 and 11.0997 percent per annum, respectively. However, no bids were received for 20-year bonds during the auction.

Courtesy: The News

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