The government raises Rs. 444 billion through T-Bills.

The cut-off yields on Treasury Bills (T-Bills) fell by 5 basis points (bps) in the paper auction held on Wednesday.

According to data supplied by the State Bank of Pakistan (SBP), the government raised Rs. 444 billion in the auction, compared to a target of Rs. 375 billion and a maturity of Rs. 296 billion.

According to official data, the 3-month and 12-month T-Bill cut-off yields remained constant. The 6-month T-Bill cut-off yield fell 5 basis points to 21.9157 percent, down from 21.9616 percent on May 3.

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The government raised Rs. 334 billion in the competitive auction for the three-month paper. It also raised Rs. 2 billion for the 6-month and Rs. 7 billion for the 12-month T-Bills, respectively.

According to a further breakdown of the official figures, the government also raised Rs. 101 billion through non-competitive bids. The entire sum raised during the sale now stands at Rs. 444 billion.